Business
Notice of Results, Confirmation of Trading Outlook
Notice of Results, Confirmation of Trading Outlook.
About this update from Victoria Plc
[{"type":"text","content":"\n\n \n \nVictoria PLC\n('Victoria' or the 'Company')\n \nInterim Results Announcement\nConfirmation of Trading Outlook\n \nVictoria PLC, (LSE: VCP) the international designers, manufacturers, and distributors of innovative flooring, confirms that it will be publishing its interim financial results for the six-month period ended 1 October 2024 on Tuesday, 26 November. These will be consistent with the numbers announced in the trading update of 15 October.\n \nOutlook\nConsistent with the positive leading indicator data noted in the previous trading update, the Board believes demand will be returning to the flooring market - albeit off a very low base of 20-25% below 2019 levels due to broad macro-economic factors. Consequently, the Board continues to expect H2 trading to be stronger as a result of management actions alongside a small improvement in demand, with full-year earnings expected to be in line with consensus expectations.[1]\n \nLiquidity\nCompany liquidity remains robust with cash on hand and undrawn credit lines continuing to provide more than £200 million of available liquidity.\n \nRefinancing\nThe Board is actively assessing the various options it has available to refinance Victoria's debt and the preferred shares. However, with the earliest of the Company's Senior Secured Notes not falling due until August 2026, the very low cost of the current debt, the expected continued decline in market interest rates, and the anticipated improvement in the Group's earnings, the Board intends to secure an optimal solution that is in the long-term interest of stakeholders.\n \n \nFor more information contact:\n \n\n\n\n\nVictoria PLC\nGeoff Wilding, Executive Chairman\nPhilippe Hamers, Group Chief Executive\nBrian Morgan, Chief Financial Officer\n \n\n\nwww.victoriaplc.com/investors-welcome\nVia Walbrook PR\n\n\n\n\nSinger Capital Markets (Nominated Adviser and Joint Broker)\nRick Thompson, Phil Davies, James Fischer\n \n\n\n+44 (0)20 7496 3095 \n \n\n\n\n\nBerenberg (Joint Broker)\nBen Wright, Richard Bootle\n \n\n\n+44 (0)20 3207 7800\n \n \n \n\n\n\n\nWalbrook PR (Media & Investor Relations)\nPaul McManus, Louis Ashe-Jepson,\nAlice Woodings\n \n\n\n+44 (0)20 7933 8780 or [email protected]\n+44 (0)7980 541 893 / +44 (...