Record sales of £1.46bn for Victoria
August 16, 2023
For the first time in the company's history, the total volume of flooring sold by Victoria plc in 2023 exceeded 200 million square metres (more than 29,500 football fields), generating record revenues of £1.46 billion.
Those revenues for the financial year ended 1 April 2023 were 43% up on the 2022 figures with EBITDA profits up 20% to £196m. Free cashflow doubled to £71m but net debt also increased significantly to £658m from £407m in 2022.
Victoria executive chairman Geoff Wilding commented: "Victoria benefits greatly from being in a long-duration, steady growth industry that will drive compounding organic growth for decades. After making two-dozen careful acquisitions over the last 10 years we have now achieved a scale that, once we have completed the current integration projects, will result in higher productivity, more efficient logistics, wider distribution, and lower input costs than almost all our competitors."
The company said it was confident of a "sharp increase in earnings" in 2024 when it has completed all itsa acquisition integration tasks.
Victoria was due to announce its final results on AUgust 15 but says auditors have requested further time to complete their final audit procedures. To help keep investors informed, Victoria decided to announce key numbers from its preliminary unaudited results for the year ended 1 April 2023.
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