Revenue growth at Victoria Carpets

KIDDERMINSTER carpet maker Victoria plc says revenue in its April to June first quarter rose by more than 11% compared to the same period last year, but performance varies considerably across its global operations.

Currency movements supported the overall improvement, said chairman Nikki Beckett, but even after that was excluded, revenue was up by 4.7%.
The booming Australian economy saw revenues down under rise by 9.8% on a like-for-like basis, although market conditions for retailers remaining mixed, the company said.

In the UK, revenue increased by 1.1%, on a like-for-like basis, against a background of soft trading on the High Street for big ticket items.

In Ireland, with a continuation in very weak consumer confidence and severely reduced expenditure on government projects, revenue in this region declined by 28.8%, on a likefor-like basis. In May, the Group restructured this division aimed at stemming the loss this further downturn created.

The company said it expected the picture to remain largely the same across its main regions.

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At Wednesday’s AGM, Victoria’s board announced the appointment of Peter Jensen as senior non-executive director with effect from 1 September 2010.
Mr Jensen had a 20-year career with SmithKlineBeecham, where he was president of worldwide supply operations and chairman of Consumer Healthcare Europe. He is a former non-exec at Genetix Group Plc; Celsis International Plc; Domino Printing Sciences Plc and Glenmorangie Plc.

Ms Beckett said: “We are delighted that Peter has agreed to join the Board as Senior Independent Director. His breadth of corporate experience  will be invaluable to the Board and we are confident that he can contribute significantly to the next development phase and growth for our business, both at home and overseas.”