6th May 2025 14:21
(Alliance News) - Victoria PLC on Tuesday said it expects to report a decline in revenue for its most recent financial year, and remains cautiously optimistic for the future in spite of market uncertainty and US tariffs.
The Worcester, England-based designer, manufacturer, and distributor of innovative flooring products said it expects to post revenue for the year that ended March 29 of at least GBP1.11 billion, which would be down 13% from GBP1.27 billion the year before.
Post-IFRS 16 earnings before interest, tax, depreciation and amortisation margins are anticipated "broadly in line" with market expectations.
The company said it is continuing to assess the impact of US tariffs, but noted around 80% of its activities are in non-US markets.
In addition, Victoria said it expects imports to continue to be a key feature of the US flooring industry over the medium-term, as the sector does not currently have the domestic production capacity to meet demand.
"Furthermore, many of our competitors are based in countries expected to attract higher tariffs than Victoria's businesses, potentially improving our relative competitiveness," the company explained.
Looking ahead, financial 2026 is expected to benefit from a lower interest rate environment, the run-rate productivity improvements already achieved by the group, as well as its implementation of "self-help" initiatives.
Victoria adopted a "more cautious outlook", however, until the impact of US tariffs can be more fully determined.
"I am pleased with the progress we are making across our business," said Executive Chair Geoff Wilding. "While the macro environment remains uncertain, the actions we have taken position us well for the years ahead."
Shares in Victoria were down 1.5% at 80.00 pence each in London on Tuesday afternoon. The stock is down 62% over the past year.
By Emily Parsons, Alliance News reporter
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