News

Victoria rolls out 27% profit rise

18 June 2008 08:42:00

Carpet maker Victoria rolled out a 27% rise in annual pre-tax profit following a strong performance at its Australian operations.

Pre-tax profit rose to £3.5m for the 52 weeks ended 29 March 2008 while group revenue increased 11.3% to £61.7m. A final dividend of 14p per share has been recommended, up 12% from last time.

The group, which underwent substantial boardroom changes last year, including the appointment of Ian Davies as Finance Director, said carpet sales within the UK were up 6.8% at £24.9m while Australian operations saw sales rise 20.1% to £28.5m.

Chairman Alexander Anton noted, "The difficulty of the current markets is real and is the backdrop against which we have developed our growth plans."

Anton added that he believes the group is well placed to weather "the difficulty of the current markets and the consequential doom and gloom."

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