Business
IMS & Trading Update
IMS & Trading Update.
About this update from Victoria Plc
[{"type":"text","content":"\n Victoria PLC\n01 February 2008\n\nIssued by Citigate Dewe Rogerson Ltd, Birmingham\nDate: Friday, 1 February 2008\n\n IMMEDIATE RELEASE\n\n\n VICTORIA PLC\n ('Victoria', 'Group' or 'Company)\n Interim Management Statement and\n Trading Update\n\n\nThe Board is pleased to report that the Group has continued to make good\nprogress since issuing its half-year results for the six months ended 30\nSeptember 2007.\n\nThe Group is now confident that the result for the year ending 29 March 2008\nwill be significantly ahead of the forecasts currently in the market for the\nCompany.\n\nINTERIM MANAGEMENT STATEMENT\nProgress across the Group in the quarter ended 29 December 2007 is summarised\nbelow:\n\nAUSTRALIA\nOur Australian operation has continued with the strong performance delivered in\nthe first half-year, with December being a particularly strong month. As a\nresult, revenues in local currency, were 17.9% higher in the quarter ended\nDecember 2007 compared to the same period in 2006.\n\nA strong product portfolio and healthy forward order book sees our Australian\ndivision well placed as we move into the final quarter of our financial year.\n\nUK\nDespite the challenging conditions presented by the faltering UK economy and\nhousing market, Victoria Carpets enjoyed a solid performance in the run-up to\nChristmas.\n\nWith new products introduced earlier in 2007 performing particularly well,\ncoupled with Victoria's strong customer associations, the UK business delivered\na good performance. This has resulted in revenues being ahead of the\ncorresponding period by 14.3%.\n\nIRELAND\nOur Irish operations enjoyed mixed fortunes in the quarter ended December 2007.\n\nResidential sales from Navan Carpets benefited from the strong product offering\nand the seasonal uplift normally expected. With revenues up 8.5% on the\ncorresponding period last year, this business has delivered a better than\nexpected result. Munster Carpets, our contract operation, however, failed to see\nany of the previously anticipated uplift in the market.\n\nOverall, in local currency, revenues from Ireland were 1.1% up on the same\nquarter last year.\n\nCANADA\nProgress in Canada has been maintained with revenues in local currency up 8.6%\non the same quarter last year.\n\nFOREIGN EXCHANGE\nThe relative weakness of Sterling in the third quarter has had a positi...