Victoria: Chairman Wilding’s creation still looks very fragile!
A floorcoverings business shouldn’t get the pulse racing, but this one has certainly brought plenty of excitement to shareholders over recent years. With red flags galore, we struggle to understand the appeal, despite the market’s positive reaction to recent results. Read on here for our thoughts (Free to read)
Shares in Victoria (LSE: VCP), the floorcovering group, reacted positively to the announcement of results for the year ended 1 April 2023, this was despite these being unchanged from the key preliminary unaudited data announced only a month earlier. If anything, the detail laid bare plenty of issues and we remain puzzled what the market sees in this heavily indebted creation. For the first time in the Company's history, the total volume of flooring sold in the year exceeded 200 million square metres (more than 29,500 football fields), generating record revenues of £1.46 billion. However, that big number has come…