Victoria focused on cost savings as trading conditions remain constant
Victoria PLC on Friday said it continues to be confident in the medium-term recovery of volume and pricing in its end-markets.
In an update before Friday’s annual general meeting, the Worcester, England-based designer, manufacturer, and distributor of flooring products said it was please to complete the refinancing of its senior debt maturities last month on ‘attractive’ terms.
The company said trading conditions have remained the same since its results announcement in July.
It said management is focused on delivering previously announced self-help initiatives, which are expected to deliver £70 million annual earnings before interest, tax, depreciation and amortisation improvements against results from the 2025 financial year.
Victoria said it is also focused on rebuilding its credit rating and generating cash to deleverage.
‘The refinancing was an important step following a challenging macro-environment over the previous two years, and provides the flexibility to drive significant operating improvements across the business to take full advantage of the next cycle as it emerges,’ said Executive Chair Geoff Wilding.
Shares in Victoria were up 4.4% at 69.10 pence in London on Friday morning.
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