Victoria seeing no end to sales growth

Victoria has told shareholders that sales continue to be massively ahead of pre-pandemic levels.

‘Trading continues to be solid, with consumers continuing to invest in their homes and commercial demand for flooring returning. Year-to-date, revenues are c.+70% ahead of the same period last year (c.+50% on a like-for-like basis excluding the impact of acquisitions), and more than 50% ahead of the same period in 2019,’ it says.

The increases are despite on-going lockdowns in Australia, that have ‘materially affected’ sales: Australia usually accounts for about 15% of group sales.

It says price increase on raw materials have ‘abated somewhat’ and it continues to reap the benefits of its investment in UK logistics.

Thanks to demand in the US for LVT, this now makes up more than 10% of the group’s sales, while, the integration of its Italian ceramic tile businesses is going better than expected.

It ‘continues to be involved in active negotiations on several high quality, value-creating acquisition opportunities,’ it says.

VictoriaLVT

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