News

Victoria sees year significantly ahead

01 February 2008 08:59:00

Carpet manufacturer Victoria expects result for the year ending March 2008 to be significantly ahead of forecasts.

The group's Australian operations have continued strongly with revenues in local currency 17.9% higher in the quarter ended December compared to the same period in 2006.

In the UK, quarterly revenues were 14.3% ahead of the corresponding period despite the challenging conditions presented by the faltering UK economy and housing market.

The outlook in Australia continues to look positive and the group plans to increase capacity to meet market demand for its products, although prospects in the UK may be impacted by the difficulties facing the wider UK economy and consumer spending in particular.

Similarly, in Ireland the market conditions lack any clear visibility, the group added.

"The group does, however, feel that its strong products, high levels of service and strength of management should enable it to weather market conditions during the coming year," said the group.

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