RECORD REVENUES FOR VICTORIA CARPETS

The pandemic lockdowns and enforced social distancing keeping populatins at home across Europe have given us all a renewed interest in our surroundings, and DIY and spending on home improvements has risen sharply.

In January, carpet and flooring manufacturing company Victoria revealed record revenues and operating profits for the third quarter to the end of December, continuing the strong performance for the first half-year to the beinning of last October.

The Kidderminster-based company put its stellar performance down to geographical diversification, all its factories staying open throughout the pandemic and a major investment in its UK logistics which it completed in late 2019.

Victoria generates nearly 75 per cent of earnings and cash from outside the UK, selling to flooring retailers across Europe, North America, the UK, Australasia and the Middle East.

Victoria’s Executive Chairman Geoff Wilding said: “Demand for flooring products is strong from consumers’ renewed focus on investing in their homes but we are outperforming the market generally.”

Following the announcement last November of a major investment in the business from US-based Koch Equity Development, Victoria is planning to increase its distribution capabilities across North America.