Victoria nosedives as it moves into the red

Shares of floor coverings specialist Victoria tumbled after it swung into a half year loss as it battles against tough market conditions, high costs and intense competition in an oversupplied market.

Shares of floor coverings specialist Victoria tumbled after it swung into a half year loss as it battles against tough market conditions, high costs and intense competition in an oversupplied market.

The group, which issued a profit warning earlier this month, posted a pre-tax loss of £1.5m in the 26 weeks ended September 29th 2012 compared to a profit of £1.3m the year before. Group revenue fell 7.8% to £35.99m.

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