Flooring manufacturer ahead of expectations

Kidderminster flooring giant Victoria has confirmed its revenues and underlying profits are expected to be ahead of expectations.

The firm expects revenues to be in excess of £970m (FY21: £662.3m), underlying EBITDA in excess of £155m (FY21: £127.4m), and underlying EBIT in excess of £100m (FY21: £79.8m).

As it looks ahead, Victoria says the demand for its products remains ‘robust’ with a resurgence in commercial demand.

In addition, in order to manage inflation, the firm says it continues to have the ability to increase selling prices quickly (and is doing so) to mitigate the impact of inflationary pressures on profits.

Also to remain supply chain secure, Victoria has invested in raw materials and operations to ensure production schedules and normal product availability were maintained, despite global disruptions.

Executive Chairman Geoff Wilding said, “There are operating challenges every year and FY2023 will be no different. However, we have invested carefully over the last nine years and Victoria is in a strong position to meet those challenges and capitalise upon them. As a result, the Board expects EBITDA to be in excess of £200 million over the coming year.”