Victoria (GB:VCP) has released an update.
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Victoria PLC, a leading flooring manufacturer, reported a dip in first-half revenue to £580 million amid a 20-25% market demand decrease since 2019, with expectations of a below-consensus earnings outlook for the second half. The company remains optimistic due to management’s cost-optimization initiatives, which include brand consolidation and production efficiency improvements, aiming to boost future earnings and margins. Despite the current industry-wide slump, recent positive trends in housing transactions and consumer spending indicate a potential upswing in flooring demand.
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