Flooring giant has it covered with ‘all-time record’ results

X The Business Desk

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Kidderminster flooring giant Victoria said it has capitalised on its strong balance sheet to deliver “all-time record” trading results.

For the six months to the beginning of October, the UK’s largest flooring manufacturer and distributor reported revenue of £489m, up from £305.5m in the prior half year period, while underlying profit before tax came in at £41.1m, rising from £13.7m.

Victoria completed four acquisitions in the period, in Italy, the Netherlands and the USA, which contributed to the financial performance of the group.

The company hailed a “very positive outlook”, along with a healthy pipeline of acquisition opportunities

Geoff Wilding, executive chairman of Victoria, said: “Victoria capitalised on its operational competitive advantages and balance sheet strength during the first half of FY22 to again deliver all-time record trading results and further value-enhancing acquisitions in a continuation of its mission to create wealth for shareholders.”

Victoria said the strong demand for flooring experienced has primarily come from existing home owners, motivated by spending more time in their homes and deciding to redecorate.

It said it expects demand to continue next year and beyond, due to the high level of housing transactions that has been experienced in many of the group’s key markets this year.