Record year for sales at Kidderminster carpets group Victoria
Carpets and floor coverings group Victoria saw sales top £1 billion in its latest financial year.
Revenue was up 54 per cent to a record £1.01 billion for the Kidderminster-based group for the year to April 2.
Underlying pre-tax profit rose by 47.3 per cent to £73.8 million.
It was the the ninth consecutive record year for revenue and operating profit which was up 16.8 per cent to £53.6m.
Executive chairman Geoff Wilding said: “Victoria continues to be in an enviable operational position thanks to the achievements of our management team, who have successfully managed a year that has seen the highest inflation in a generation alongside massive disruption to global supply chains.
"This year they remain laser-focussed on integration of recent acquisitions and execution of detailed synergy plans that will drive higher productivity, lower costs, and better customer service.
"I remain confident Victoria will continue to create wealth for shareholders.”
The record sales were achieved despite challenging operational conditions due to supply chain constraints and significant inflationary pressures.
Victoria made five value-adding acquisitions completed during the year – one in the UK and Europe soft flooring division, three in the UK and Europe ceramic tiles division, and one in the US forming a new North America division.
