Carpet maker Victoria's profit is to beat market expectations

Carpet maker Victoria has announced that underlying pre-tax profit will be ahead of consensus market expectations for the financial year ending April 2, 2022.

A Victoria warehouse.

The business, which has a manufacturing site in Cleckheaton, West Yorkshire, said group revenue continues to increase, driven by strong consumer demand for flooring products.

Victoria's Italian ceramic business has its full production output now sold out until the second quarter of 2022 with management actively working on plans to further increase capacity.

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The firm said its UK logistics operation continues to provide a compelling service proposition to Victoria's customers, flooring retailers, driving market outperformance in Victoria's UK soft-flooring business.

Philippe Hamers, CEO of Victoria, said: "Managing our way successfully and profitably through the extraordinary conditions of the last 18 months, with pandemic lockdowns followed by inflation and supply challenges, has highlighted the value of having the industry's best management team at Victoria.

"The group has achieved record operating earnings in the first half of the year and all the credit lies with the skill and dedication of the operational managers.

"The conditions we have faced in the first half will, almost certainly, continue for the rest of the year, but I am confident the group will continue to deliver for its shareholders."


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James Mitchinson