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... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...