Insider Media Limited

Kidderminster-based carpets and floorcoverings manufacturer Victoria has posted strong results for its third quarter to 31 December 2010. Total group revenue was up by 10.8 per cent over the period and up by 3.1 per cent on a constant currency basis on the same period last year.

Revenue in the UK was up strongly by 7.6 per cent. The firm also has a presence in Australia, where sales were up by 2.4 per cent. However, Victoria was hit by a slump in the Republic of Ireland, where sales were down by 18.9 per cent.

Victoria says sales in the UK benefited from the strong performance of new product introductions made earlier in the year and further growth in the insurance replacement channel to market.

In Australia, sales to the residential sector were softer than normal in the run up to Christmas but this was off-set by better sales in the contract sector. Business conditions in Ireland continue to be worse than last year and “remain extremely challenging”, according to the company.

Trading in January in the UK was in-line with management expectations and ahead of the same period last year, although January 2010 was affected by very bad winter weather conditions. In Australia, the floods in Queensland and parts of the State of Victoria have had some short-term impact on trading in January in those states but are not anticipated to affect the Group's four quarter results.

A statement from the company read: “The group remains focused on tight budgetary control and cash generation; however, higher commodity prices, further range introductions and new market initiatives are likely to marginally increase borrowings in the short-term.

“Whilst uncertain economic times are still present, the board continues to be confident that the group will meet market forecasts for the full year and remains in very good shape to exploit market opportunities.”