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Victoria returns to the black
Victoria Carpets has highlighted its success in the insurance replacement market and at John Lewis as it returns to UK profit.
UK sales climbed 10.8% to £13.82m with growth in insurance and the department store chain described as 'strong' in the six months to 1 October. Sales of its polypropylene Easicare collection also rose.
An UK pre-tax loss of £530,000 became a profit of £160,000.
Victoria intends to introduce the Victoria Luxury Flooring range of LVT in early 2012, following its £400,000 purchase of C&H Distribution in September. It says its has already recruited staff for the roll-out.
Helped by higher sales and profits in its Australian operation, group pre-tax profits rose from £560,000 to £1.27m as sales rose 9.8% to £39.02m.
'The objective remains focused on building Victoria's brand reputation and improving the quality of its earnings,' says Nikki Beckett, chairman.
'To do this, we plan to continue to invest in our business for the future and, during the remainder of this current financial year, we will be making significant investment in both new carpet ranges and in the luxury vinyl tile market.
'We feel confident that alongside our traditional business, these new product initiatives, allied to anticipated growth in new market areas, will help the group continue to gain market share and place Victoria in a commanding position to exploit any opportunities presented by the market.'



