Kidderminster carpet maker Victoria sees sales soar as plans to end manufacturing in town push ahead

The company announced last month that it was to transfer manufacturing out of the town to two other UK carpet making sites, with 60 jobs going from its Worcester Road site.

The decision will leave the site with the company's head office, product development, and new warehousing and showroom facilities.

Victoria said in today's results that its current Midlands distribution centre, has become "too small for purpose", leading it to move the logistics side of the business into its current manufacturing site in Kidderminster.

The company said the plans came because it needed to increase production capacity amidst rapid growth, and that was borne out by latest figures which showed a 29 per cent rise in revenue to £330.4 million in the year to April 1.

Part of that was on the back of a string of acquisitions over the course of the year, bringing "new products and geographies" to the group.

Executive chairman Geoff Wilding said: "2017 was another good year for Victoria and we look to the future with confidence.

"We further increased our operating margins, completed four earnings-accretive acquisitions, which are performing well, and we strengthened our management team even more with the key appointment of Philippe Hamers as chief executive."

Underlying earnings rose by 41 per cent to £45.7 million.

He also said further acquisitions could be in the pipeline, on the back of picking up Yorkshire underlay maker Ezi Floor, Dunlop, an Australian manufacturer of the same product, and Dutch artificial grass makers GrassInc and Avalon BV.

"2018 will be another positive year for Victoria as we have widened our market exposure, both geographically and by product range and our recent internal reorganisation will provide further revenue and margin growth," Mr Wilding said.

"Although we have already more than doubled EBITDA/revenue margins over the last four years, the board feels that we can drive our expanded business even further.

"This will all be supported by further acquisitions – for which, shareholders can be confident, we will not overpay."