Victoria booms to a billion in sales
Flooring conglomerate Victoria plc has exceeded a billion in turnover after another record-breaking year that saw sales grow 54% after new acquisitions and strong organic growth.
In its preliminary results for the full year to April 2, the Kidderminster-based group reported sales of £1,019.8m, compared to £662.3m in 2021.
Five value-adding acquisitions were completed during the year to boost the figures but aside from this, organic growth was still over 19% after a strong trading performance. Profits were up 28% to £162.8m.
Geoff Wilding, Executive Chairman of Victoria PLC commented:
“Victoria continues to be in an enviable operational position thanks to the achievements of our management team, who have successfully managed a year that has seen the highest inflation in a generation alongside massive disruption to global supply chains.
"This year they remain laser-focussed on integration of recent acquisitions and execution of detailed synergy plans that will drive higher productivity, lower costs, and better customer service," he said.
Commenting on trading in the first quarter of its new financial year (April–June 2022), Victoria said: "Whilst the Board remains very mindful of the economic headwinds in the world and is taking numerous actions to mitigate their impact, with Victoria’s track record of resilience and strong management, it is confident that the business is well positioned to meet these challenges and capitalise upon them."
It said the geographic diversity that the Victoria has built over the last nine years help balance the impacts as outperformance in some markets supports softer demand elsewhere.
The five acquisitions completed during the year – one in the UK & Europe Soft Flooring division, three in the UK & Europe Ceramic Tiles division, and one in the US forming a new North America division.
