Share buybacks help Victoria’s value return above £1bn 

Flooring group Victoria has seen its share price leap after it began a series of share buybacks.

Its share piece has risen from 644p to 914p after it began buying its own shares on 14 March. The 41.9% rise has seen the group’s value return above £1bn, at £1.056bn.

It bought 16,275 shares on 14 March at an average price of 663.38p; 4,000 shares on 15 March at 670p; 18,315 shares at an average of 682.53p on 16 March and 7,500 shares at an average of 909.49p on 25 March. 

The group has shareholder approval to buy back 11,685,190 shares – about 10% of the group’s shares. The purchases, totalling £332,982, were funded ‘from excess cash’.

However, the rise has still some way to go to restore its value since the start of the year, when the share price was 1,200p. 

VictoriaLVT

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