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Victoria directors expect to break even 'at best'
THE new directors at Kidderminster’s Victoria Carpets say the best the company can do this financial year is break even.
It is the first trading update released by the new board - which includes Alexander Anton and Geoff Wilding - since it was voted in last month at an extraordinary meeting.
In a statement, the company said: “The new board of directors has undertaken a detailed review of the current trading and short-term prospects of Victoria PLC. This review is continuing.
“However, it is already apparent the company is likely to break even at best for the full year ending April 4, 2013. Current trading, in both Australia and the UK, remains weak and significantly behind budget.
“The directors wish to assure shareholders they are doing all they can to remedy the situation.”
Victoria is due to release its half year statement at the end of this month.