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Victoria: demand set to carry on

VictoriaLVTVictoria has told shareholders it anticipates current demand can be ‘sustained for the foreseeable future.’

‘Trading continues to be very strong across all of Victoria's geographies and product groups, with double-digit percentage increases over 2019. Encouragingly, leading indicators, such as housing transactions, savings rates, and consumer confidence, suggest that the current high levels of consumer demand for Victoria's products will be sustained for the foreseeable future.’

The group says it has been able to mitigate raw material cost increases by raising prices and negotiating with suppliers.

It repeated that it expects further acquisitions soon.

‘In my 30 years in the industry, I have never known it to be busier at this time of the year. Our continually enhanced service proposition has proven to be the cornerstone of the company's growth trajectory. Victoria's production is running at full capacity and some of our factories have orders taking all their output through until autumn. We are out-sourcing some production to ensure service standards are met and market share gains sustained. The value of our management team's depth of industry experience and entrepreneurial initiative has proven invaluable as we have been able to overcome the risk of potential raw material shortages by leveraging our long-term relationships, size, and extensive knowledge of supply chain options. I am confident shareholders will be very pleased with the way the business is performing this year,’ says Philippe Hamers, Victoria chief executive.