Carpet maker Victoria expects profits before tax to rise

17 Apr '14

2 min read

The Victoria PLC Board is pleased to announce that the Group's profits before tax and exceptional items are likely to be ahead of market expectations for the full year to 29 March 2014, as a result of continued improvements in like-for-like group profitability and including the impact of the acquisition of the Globesign group.

The BoD is also pleased to report that the inclusion of the Globesign group from 13 December 2013 is on target for producing the benefits as contained in the Circular, dated 26 November 2013, in connection with the acquisition of that group.

As comparators to the information disclosed in the Admission document dated 26 November 2013, Globesign's turnover for their 12 months to 1 March 2014 was £18.7m, and their estimated profit before tax, based on unaudited management accounts for that period was £4.5m.

However these are extracts of the Globesign's group performance for the 13 months to 29 March 2014, of which the Group's share will be from 13 December 2013 only.

Victoria PLC was originally founded in 1895 from one small factory weaving tapestry carpets in Victoria Road, Kirkcaldy, Scotland.

Today Victoria PLC, with its head offices now in Kidderminster, Worcestershire, is a successful and well-established international manufacturer and distributor of contemporary carpets and floor coverings through its operations in the UK, Australia and Canada.

Victoria plc

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