Flooring company expects fifth year of growth

Flooring company Victoria’s pre-tax profit will be higher than expectations for the fifth year running, according to the manufacturer.

The Worcester-based company attributes its 2018/19 performance to the rationalisation of its UK manufacturing facilities, which led to reduced overheads, and the trading performance of the two ceramics businesses it acquired in late 2017, which have been “encouraging and consistent with expectations”.

It also attributes growth to diversification, which it states has lowered its operational risk. Almost 60% of Victoria’s earnings are now generated from outside the UK, and spread across several categories of flooring, including carpets, ceramics and underlay.

Geoff Wilding, executive chairman, said: “We are now seeing the clear benefits of our strategy to develop a broadly based, resilient flooring business, where operational and manufacturing synergies lower costs, whilst also providing a robust platform for organic and acquisitive growth.

“This is in no small part due to the excellence of our wider senior management teams who continue to drive the business and create opportunities to grow market share while maintaining margins.”