News

Victoria warns of weaker FY results

12 November 2008 08:16:00

Shares in carpet and floor coverings maker Victoria fell over 24% as it warned full year results are expected to be significantly lower than last year.

"Given the high degree of uncertainty that now exists in all our markets, and coupled with the likelihood that they may yet deteriorate still further, the board anticipates that the results for the full year are likely to be significantly down on those achieved last year," it said in Wednesday's interim statement.

The group, which has operations in the UK, Ireland, Canada and Australia, said overall trading has been solid in difficult economic conditions and remains confident its business will ride out the down turn.

In the six months to 27 September 2008 profit before tax rose to £1.3m from £1.2m the year before. Sales for the period increased to £32.7m from £28.8m previously.

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