VICTORIA PLC (VCP) — Interim results for the six months ended 27 September 2025

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WEBVTT NOTE Transcription provided by Deepgram Request Id: 01a043e9-daba-7ec0-808d-6d231434f586 Created: 2026-08-27T15:50:56.711Z Duration: 3274.78 Channels: 1 00:00:01.040 -- 00:00:03.679 Good afternoon, and welcome to the VICTORIA PLC 00:00:03.679 -- 00:00:05.680 Interim Results Investor Presentation. 00:00:15.915 -- 00:00:18.235 Simply type in your questions and press send. 00:00:18.315 -- 00:00:19.755 The company may not be in a position 00:00:19.755 -- 00:00:21.675 to answer every question we received during the 00:00:21.675 -- 00:00:22.555 meeting itself. 00:00:22.795 -- 00:00:24.635 However, the company can review all questions submitted 00:00:24.635 -- 00:00:27.115 today and publish responses when it is appropriate 00:00:27.115 -- 00:00:29.080 to do so. Before we begin, I would 00:00:29.080 -- 00:00:30.839 like to submit the following poll. And I 00:00:30.839 -- 00:00:32.119 would now like to hand you over to 00:00:32.119 -- 00:00:35.480 Executive Chairman, Jeff Wilding. Good afternoon to you. 00:00:36.120 -- 00:00:38.600 Good afternoon. And thank you to everybody for 00:00:38.600 -- 00:00:41.160 joining the h one earnings call for VICTORIA. 00:00:42.085 -- 00:00:44.965 The macro environment continues to be challenging for 00:00:44.965 -- 00:00:46.885 consumer discretionary spending, 00:00:47.045 -- 00:00:49.684 and so we've continued to focus on internal 00:00:49.684 -- 00:00:53.285 initiatives to improve margins and lower operating costs, 00:00:53.445 -- 00:00:55.285 and we'll discuss these later on the call. 00:00:55.670 -- 00:00:57.910 However, we'll begin with Alec Pratt, 00:00:58.150 -- 00:01:00.230 the group CFO, taking us through the numbers 00:01:00.230 -- 00:01:01.190 for h one. 00:01:02.150 -- 00:01:03.350 Great. Thanks, Jeff. 00:01:04.950 -- 00:01...