Victoria falls despite full-year growth
Carpet maker Victoria is struggling against tough economic headwinds in both the UK and Australia and saw shares fall on Tuesday morning despite posting growth in both revenues and profits.
Carpet maker Victoria is struggling against tough economic headwinds in both the UK and Australia and saw shares fall on Tuesday morning despite posting growth in both revenues and profits.
Turnover for the year ending March 31st was £77.13m up 9.4% on the prior year.
Before exceptional items, pre-tax profits were up 14.7% at £2.21m. After exceptionals, pre-tax profits were £1.55m, down 19.6% on 2010/2011.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The exceptionals amounted to £0.66m spent on restructuring the Irish business and a formal sales process earlier in 2012.
Despite offering a total dividend of 10.5p per share, up 16.7% on 2011, Victoria shares were down 4.4% at 10:44.
The Chairman, Katherine Innes Ker said: "As the new financial year progresses, the benefits of ..investment in ..new products, together with cost reductions and targeted improvements in working capital, should see stronger sales and profit growth in the second half of 2013."
BS
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%
Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the US
Medium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.