Business
Current Trading and Notice of Preliminary Results
Current Trading and Notice of Preliminary Results.
About this update from Victoria Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3019A\n Victoria PLC\n 01 June 2021\n \n \n \n \n \n \n \n \n For Immediate Release \n \n \n \n 1 June 2021\n \n \n \n \n The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \n Victoria PLC\n ('Victoria', the 'Company', or the 'Group')\n \n \n Current Trading \n \n \n and \n \n \n Notice of Preliminary Results\n \n Victoria PLC (LSE: VCP) the international designers, manufacturers and distributors of innovative flooring, announces the following positive current trading update and notice of results.\n \n Strong Current Trading Continues\n The Board confirms that trading continues to be very strong across all of Victoria's geographies and product groups, with double-digit percentage increases over 2019 (2020 comparatives are meaningless due to the complete lockdowns covering this period last year). Encouragingly, leading indicators, such as housing transactions, savings rates, and consumer confidence, suggest that the current high levels of consumer demand for Victoria's products will be sustained for the foreseeable future.\n \n The Company is pleased to advise shareholders that it has been able to mitigate the inflation recently seen globally in certain raw material prices (albeit we expect this inflation to be only transitory) through a combination of selling price increases and supplier negotiations.\n \n Additionally, the Group is very pleased with the post-completion performance of the recently announced acquisitions. Our management team is now fully engaged integrating these businesses into our existing operations, and we are confident that the acquired businesses will have a meaningful positive impact on our earnings and free cash flow this financial year.\n \n Work continues on further acquisition opportunities and the Board anticipates being able to report additional acquisition-led growth in the short-term. Following the Koch Equity Development preferred equity investment in November and the subsequent bond issue in February and March of this year, the Company has a significant amount of capital ready to deploy for a...