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Victory Corp registers solid growth of 10.6 from cosmetics & jewellery business

Jun '05
UK based The Victory Corporation announced audited results for the Year Ended 31 March 2005.

Summary of Audited Results:
- Turnover of £71.0m (2004: £64.3m), up 10.5% on last year.
- Operating profit of £1.8m (2004: £2.9m)
- EBITDA of £3.5m (2004: £4.7).
- Profit before tax of £1.2m (2004: £2.1m
- Solid growth from the Cosmetics & Jewellery business, with sales growth of 10.6% producing EBITDA of £3.7m and an operating profit of £1.9m.
- The number of Cosmetics & Jewellery Consultants grew by 36% to 13,167.
- Continued focus on the Direct business, including the launch of the Jewellery product range, exclusive to Direct.
- EPS of 10.5p (2004: 38.7p)
- In the first 10 weeks of this financial year, sales through our Direct selling channel have increased by 40% and overall Group sales by 30%, compared to the same period last year.

“They are pleased that our new product range, Jewllery, has helped to generate strong sales growth since it launched in January, and has contributed towards our second successive year of Group profits. They will continue to focus on Direct Selling as they expand into new ranges and international markets”.

For the financial year ended 31st March 2005, The company is able to report a 10.5% increase in turnover to £71.0m (2004: £64.3m). The first nine months of the year recorded a sales increase of 9% and with the launch of Jewllry in January 2005, total sales increased by 16% for the last three months of the financial year. The Group operating profit was £1.8m (2004: £2.9m). The overall profit before tax for the Group was £1.2m (2004: £2.1m). Overall borrowings at the year-end totalled £9.6m (2004: £11.1m). There were no outstanding loans payable to Virgin as at 31st March 2005. The Group's balance sheet strengthened and recorded a positive net asset position of £5.3m (2004: £4.0m) at the year end.

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