Victoria PLC, the international designers, manufacturers and distributors of flooring, expects Group revenues and underlying profits to be ahead of market forecasts for the financial year ended 2 April 2022.
The Group now expects revenues to be in excess of £970m (FY21: £662.3m), underlying EBITDA in excess of £155m (FY21: £127.4m), and underlying EBIT in excess of £100m (FY21: £79.8m).
Looking ahead, Victoria said demand for its products remains ‘robust across our markets’, with consistent demand from consumers driving retailer channels.
Furthermore, the Group is also witnessing a strong resurgence in commercial demand (hospitality, offices, leisure, home construction).
Executive Chairman Geoff Wilding said: “There are operating challenges every year and FY2023 will be no different. However, we have invested carefully over the last nine years and Victoria is in a strong position to meet those challenges and capitalise upon them. As a result, the Board expects EBITDA to be in excess of £200 million over the coming year.”