Updates

Victoria

January 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

I deliberated long and hard over whether Victoria should be included as a NAP this time around, especially as the shares stand at around a quarter of the £12 high; if there is any sign of a rate cut/soft landing on H2, there is scope for upgrades: as Berenberg points out, every additional 5% of revenue drops through to £25m PBT. But to get the share price moving I feel Victoria needs to start to buy back some of its outstanding bonds due 2026-8, which are presently trading below face value. As it was, H1 shows EBITDA at £95.8m, down 4% on the prior year’s £100m and margins up by 1.9% to 14.9%, with recent cost cuts (c£20m EBITDA benefit) from a previously announced reorganization offsetting the softer demand environment, with rev ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Ultimate Products

Xaar

Victoria - Stockpile of ceramic tiles built (January 2023)

Victoria (November 2022)

Victoria - Eps of 46.3p forecast for next year (August 2022)

Victoria (May 2022)

Victoria (December 2021)

Victoria - Forecasts lifted 12% (November 2021)

Victoria (August 2021)

Victoria (July 2021)

Victoria (June 2021)

Victoria (April 2021)

Victoria - Reports best ever Q3 (February 2021)

Victoria - Tremendous acquisition opportunities (December 2020)

Victoria (June 2019)

Victoria (January 2018)

Victoria (December 2017)

Victoria (September 2017)

Victoria (March 2017)

Victoria - 5-way share split (October 2016)

Victoria (August 2016)

Victoria (May 2016)

Victoria - Eps forecasts upgraded to 80.1p and 105.5p (April 2016)

Victoria - To double sales within 18 months to US$1bn (March 2016)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

Victoria PLC is a leading designer, manufacturer and distributor of innovative flooring products. The Group has operations in the UK, Europe and Australia, employing approximately 2,600 people across more than 20 sites.