Victoria PLC - Kidderminster, England-based designer, manufacturer and distributor of flooring - Expects revenue and underlying earnings before interest, tax, depreciation and amortisation for the year ended April 1 to be in-line with market expectations. Says the latest company-complied view of analyst expectations see revenue in the range of £1.36 billion to £1.52 billion, and underlying Ebitda in the range of £196 million to £203 million. Notes that total volume sold in the year exceeded 200 million square metres for the first time in a company first. Reports revenue of more than £1.45 billion, as a result. Confident outlook for financial 2024 following actions to mitigate near-term macroeconomic pressures from influencing consumer demand.

In the year ended April 2, 2022, revenue totalled £1.02 billion and underlying Ebitda amounted to £162.8 million.

Chair Geoff Wilding says: ‘We are laser-focussed on the reorganisation of Balta and the integration of other recent acquisitions. Completion of these projects is expected to deliver a significant uplift in productivity and cash flow, even during a period of economic uncertainty, which underpins our confidence in outlook for FY24 earnings growth and deleveraging.’

In April 2022, the company acquired the rugs and UK carpet divisions of Balta Group. Victoria says that integration of Balta is proceeding successfully, with the reorganisation programme on schedule. Company anticipates completion this calendar year, with a materially positive impact on future earnings and cash flow. Victoria expects to realise synergy gains of no less than €15 million year upon completion.

Company expects to announce its full-year results in July.

Current stock price: 490.50 pence, up 3.3% in London on Tuesday afternoon

12-month change: down 27%

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