Investors carpet Victoria over strategy
Shares in floorcoverings group Victoria fell 15% yesterday, wiping off £80m from the company's market value as investors took a dim view of the company's decision to grow market share instead of profits.
Its shares closed last night at a two-year low of 369p, 60% below its price last May.
The reaction came despite Victoria providing “a considerable degree of granularity about the actions” it had taken with the aim of reassuring shareholders.
The Kidderminster-based group is forecasting the current financial year, to Marc... For the full story register now for free or login below...