Buoyant flooring firm trading above pre-Covid predictions

Kidderminster flooring firm Victoria has said that sales for the last three months have recovered to such an extent that trading is now above management’s pre-Covid expectations.

Turnover for the quarter to October stood at £195m – 109% up on trading predictions made before Covid hit hard in March, and 128% up on last year.

A statement from the firm said: “The Board believes this favourable outcome is a result of people spending more time in their homes and working remotely. This trend is encouraging increased investment by consumers in home redecorating, as well as driving new home purchases across all the markets where the Group trades.”

The news comes the weekm after Victoria agreed a deal which will see US-based Koch Equity Development (KED) invest some £218m in the company.

Koch Equity Development managing director, Blake Ressel, said: “We are delighted to be partnering with Victoria. We have conducted due diligence over the last few months, and we are confident in Victoria’s strategy, its management team, and the size of the market opportunity. We expect our investment to help Victoria accelerate execution of its growth plans.”