REG - Victoria PLC - Full Year Trading Update <Origin Href="QuoteRef">VCP.L</Origin>

VictoriaAnnouncement

22/03/2016 07:05

RNS Number : 8229S
Victoria PLC
22 March 2016
22 March 2016
Victoria PLC
('Victoria,' the 'Company,' or the 'Group')
Full Year Trading Update
Trading Materially Ahead of Market Expectations
Victoria PLC, (LSE: VCP) the international designers, manufacturers and distributors of innovative floor coverings, is pleased to provide a positive trading update on the financial year ending 2 April 2016. The Board is pleased to announce that the Group's profits before tax and exceptional items will be materially ahead of current consensus market expectations for the financial year ending 2 April 2016.
The Group's recent acquisitions have now been fully integrated and the associated operational synergies have resulted in improved gross profit margins, which the Board anticipates will continue to accrue into 2017. In addition, the Group's businesses have seen a strong performance in the key UK and Australian markets.
Furthermore, due to the continued focus on improved cash generation there will be a material reduction in Group net debt and the net debt to EBITDA ratio since the interim results.
Finally, as highlighted in the announcement dated 8 March 2016, the discussions regarding the potential acquisition of Lano Carpets are ongoing and a further announcement will be made in due course, as appropriate.
For more information contact:
Victoria PLC +44 (0) 1562 749 300
Geoff Wilding, Chairman
Michael Scott, Group Finance Director
Cantor Fitzgerald Europe  +44 (0) 20 7894 7000
(Nominated Adviser & Broker)
Rick Thompson, Phil Davies,
David Foreman, Michael Reynolds (Corporate Finance)
Whitman Howard +44(0) 20 7659 1234
(Joint Broker)
Nick Lovering, Ranald McGregor-Smith
Buchanan Communications +44(0) 20 7466 5000
Charles Ryland, Victoria Watkins, Jane Glover

This information is provided by RNS
The company news service from the London Stock Exchange
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