Success of acquisitions whet Victoria’s appetite for more

FLOORCOVERINGS group Victoria is targeting more acquisitions as it continues to gain market share in the UK and Australia.

Like-for-like revenues increased 8% in the six months to October 1 but the purchase of Interfloor last year helped grow overall revenues by 45% to £153.4m.

Pre-tax profits more than doubled in the period to £8.4m.

The group continues to seek In October Victoria paid £6.5m for Ezi Floor, with the deal subject to further performance-based payments of up to £6.5m over four years.

Geoff Wilding, executive chairman of Victoria said: “During the last six months we remained focused on executing our plan, with the acquisition of Ezi Floor extending the group’s underlay offering and earnings.

“The board continues its effective cash management whilst at the same time being quick to identify and implement potential commercial and margin enhancing synergies across the Group as we gain market share both in the UK and Australia.

“With no shortage of acquisition opportunities in the UK and Europe, the board is confident it can continue to grow Victoria and create more wealth for shareholders.”

Kidderminster-based Victoria now has approximately 1,700 employees and operates from 10 sites in the UK, and three in Australia.