Business
Preliminary Results for the year ended 2 April 11
Preliminary Results for the year ended 2 April 11.
About this update from Victoria Plc
[{"type":"text","content":"\n \nRNS Number : 4439I Victoria PLC 15 June 2011 \n \n\n \n International manufacturer & distributor of carpets & floorcoverings, supplying the mid to high end residential and contract markets in the UK and overseas.\n \nIssued by Citigate Dewe Rogerson Ltd, Birmingham\nDate: Wednesday, 15 June 2011 \nEmbargoed: 7.00am\nPreliminary Results for the year ended 2 April 2011\n\n\n\n\n \n \n \n\n\nYear ended\n2 April 2011\n\n\nYear ended\n3 April 2010\n\n\n\n\n\n\n\nRevenue\n\n\n£70.50m\n\n\n£62.97m\n\n\n+12.0%\n\n\n\n\nOperating profit \n\n\n£2.42m\n\n\n£1.78m\n\n\n+35.8%\n\n\n\n\nPre-tax profit\n\n\n£1.92m\n\n\n£1.09m\n\n\n+76.8%\n\n\n\n\nBasic earnings per share\n\n\n17.41p\n\n\n9.04p\n\n\n+92.6%\n\n\n\n\nBasic adjusted earnings per share*\n\n\n18.35p\n\n\n9.04p\n\n\n+103.0%\n\n\n\n\n \nTotal dividend for the year\n\n\n \n9.00p\n\n\n \n8.00p\n\n\n \n+12.5%\n\n\n\n\nNet debt \n\n\n£6.21m\n\n\n£7.14m\n\n\n-13.0%\n\n\n\n\n \nKey points\n§ Australia resilient, delivering strong performance reflecting margin improvement and more efficient utilisation of capacity.\n \n§ UK operations witnessed toughest environment seen for years; Victoria Carpets bounced back, finishing robustly after weak start.\n \n§ Quality of UK revenue improved with insurance replacement market reducing dependence on consumer spending.\n \n§ Strong portfolio of products with recent introductions receiving good feedback from the Trade. \n- New range supplied to Westminster Abbey for the Royal Wedding. \n- Significant additional products to be rolled out across John Lewis network. \n- Plans in place to expand both the Group's retail and commercial offering and develop new channels to market.\n \n§ Overall, encouraging start to the new fiscal year with clear focus on short term trading and delivering long term objectives.\n \n\"Victoria is determined to become the leading quality flooring supplier in both Australia and the UK and we have firm plans in place to ensure that we achieve this goal\"\nNikki Beckett, Chairman\n \n \"Quality underpins everything we do and our reputation for exceptiona...