Revenue boost at Victoria as investment continues
GROUP revenue at Worcestershire-based floorcovering designer and manufacturer Victoria has increased by just over £5.5m to £39.02m.
In its half-year results for the period ended October 1, 2011, the Kidderminster plc reports a 17.1% spike in revenue, up from £33.3m, and an operating profit of £1.37m, up year-on-year from £776,000.
Pre-tax profit climbed to £1.27m from £561,000 and overall profit for the period was £802,000, up from £359,000.
Victoria said its Australian business continued to deliver improved results against tough market conditions while its market share in synthetic products had grown.
The statement added: “The board’s objective remains focused on building Victoria’s brand reputation and improving the quality of its earnings.
“To do this, we plan to continue to invest in our business for the future and, during the remainder of this current financial year, we will be making significant investment in both new carpet ranges and in the luxury vinyl tile market.
“We feel confident that, alongside our traditional business, these new product initiatives, allied to anticipated growth in new market areas, will help the group continue to gain market share and place Victoria in a commanding position to exploit any opportunities presented by the market.”
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