Victoria PLC, the U.K.-based maker of flooring products, has announced that its first-quarter trading is in line with the board's forecasts and consistent with market expectations for fiscal 2024. The company has also backed its guidance for fiscal 2023.
For the year ending April 1, Victoria PLC expects its group revenues and underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) to meet market expectations. The official figures, which will be published on August 15, are anticipated to be in line with the company's previous guidance.
In April, Victoria PLC had projected revenues of over £1.45 billion ($1.86 billion) for the year, with a company-compiled consensus ranging between £1.36 billion and £1.52 billion. The market views for underlying EBITDA were estimated to be between £196 million and £203 million.
The group reported that demand in the first quarter of the new fiscal year remained stable across its markets, while margins improved due to a decrease in input costs. Furthermore, Victoria PLC stated that its integration projects are progressing as scheduled.
As of 07:42 GMT, shares of Victoria PLC were up by 50 pence or 7.6%, reaching a price of 706 pence.