Victoria back in the black
Carpet and floorcoverings specialist Victoria has returned to profit, it revealed this morning (22 November 2011). The Kidderminster company said it was now "outperforming the market".
In a statement to the Stock Exchange, Victoria said profits for the second half of the year to 1 October 2011 were up by 80 per cent to £1.4m. Revenues also rose by 17.1 per cent to £39m.
On the back of the results Victoria announced plans to add to its range by launching a new division, Victoria Luxury Flooring.
The company said its new venture will open up opportunities in the UK and European markets.
Victoria's chairman Nikki Bennett said: “The board's objective remains focused on building Victoria's 'brand' reputation and improving the quality of its earnings.
"To do this, we plan to continue to invest in our business for the future and, during the remainder of this current financial year, we will be making significant investment in both new carpet ranges and in the luxury vinyl tile market."
