Worcs flooring firm Victoria plc ‘remains cautious’ in anticipation of market rebound

Victoria plc, a Kidderminster-based designer, manufacturer and distributor of flooring, is maintaining a ‘cautious outlook’ as it shares results for the year ended 30 March 2024.

The group posted revenues of £1.25 billion for the period – down 14 per cent on the previous year – but managed to ‘outperform the wider flooring market in several key geographies’, despite the ongoing influence of macro-economic factors on consumer spending.

Meanwhile, integration projects to boost productivity and cut costs continue at pace.

Geoff Wilding, executive chairman of Victoria, said: “While we remain cautious about near-term trading conditions and cannot predict precisely when demand will normalise, we’re (logically) continually moving closer to that point.

“As interest rates fall, housing transactions, deferred residential renovation, improvement and repair purchases will rebound, driving flooring demand.

“We expect the market outperformance and productivity improvements secured over the last 24 months to then be rapidly reflected in Victoria’s earnings and cash flow. “Until this occurs, we remain focused on minimising controllable costs and driving market share gains.”