15th Apr 2014 08:53
LONDON (Alliance News) - Victoria PLC said Tuesday it expects its profits before tax and exceptional items to be ahead of market expectations for its full-year.
The floorcoverings firm said it expects profits before tax and exceptional items to be ahead of market expectations for the full-year to 29 March, 2014, as a result of continuing improvements in like-for-like group profitability, as well as the impact of its recent acquisition of the Globesign group.
Victoria said that the integration of Globesign group since the acquisition December 13, 2013, is progressing on target to produce the benefits outlined when it announced the deal in November.
At the time, Victoria said, "The board believes, as a result of the acquisition, the enlarged group will benefit from a strengthened senior management team, with a clear and focused strategy for further turnaround and growth. The directors expect the acquisition to be accretive to underlying earnings per share of the company."
Shares in Victoria were trading 11.76% higher at 349.25 pence per share, one of the top ten giners on the AIM market Tuesday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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