Record results for Victoria
Carpets group Victoria has revealed “all-time record” operating results.
The group reported revenue of £489 million for the six months ended October 2, 2021, up from £305.5 million in the prior half year period. Meanwhile, it swung to a pre-tax profit of £2.9 million, compared with a £4.7 million loss.
It said "inflationary pressures and supply chain constraints were successfully mitigated with proactive management of raw materials and energy costs."
The group, which has its headquarters at Worcester Road in Kidderminster, also designs, manufactures and distributes a range of innovative flooring including ceramic tiles, luxury vinyl tile and artificial grass.
Victoria completed four acquisitions in the period, in Italy, the Netherlands and the USA, which contributed to the financial performance of the group.
The company hailed a “very positive outlook”, along with a healthy pipeline of acquisition opportunities.
Geoff Wilding, executive chairman of Victoria, said: “Victoria capitalised on its operational competitive advantages and balance sheet strength during the first half of FY22 to again deliver all-time record trading results and further value-enhancing acquisitions in a continuation of its mission to create wealth for shareholders.”