Ian Davies, Victoria Carpets group finance director is to return to the technology sector in August, joining £50m turnover broadcast and surveillance company Vislink as finance director.
'Ian has been an important part of the group's development during the past five years and has made a valuable contribution to the company's success. We are most grateful for all Ian has done whilst at Victoria, but understand his decision to further his career in the technology sector. We wish him all the very best for the future,' says Alan Bullock, Victoria group md.
Davies' departure, a month after the Alexander Anton led consortium took control of the board, came as the group enjoyed a strong quarter with sales 12% higher. 'The insurance replacement market continued to perform well and there was a good finish to the year in both export and home contract markets, with robust sales to the hospitality sector.'
However it warned that its Australian division, which is almost twice the size of its UK operations, has seen sales fall by 9.6%. 'There was a further rapid and significant softening of market conditions in February and March, as consumers saved more and reduced spending,' it warned.
It says pre-tax profits for the year to the end of March will be in line with previous forecasts but it will be hit by a £700,000 bill for restructuring its Irish businesses and the cost of the sale process before the board changes.
There will be further costs in the 2012/2013 financial year after restructuring its Australian wool mill operations in response to what it says 'may be a permanent structural change away from wool carpets towards synthetic carpets.'