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(Sharecast News) - Floorings business Victoria warned on Monday that fullyear underlying earnings would fall short of previous expectations after a weakerthananticipated start to January, with trading hit by subdued consumer confidence and lower footfall across key markets.
Victoria now expects fourthquarter revenues to undershoot earlier guidance and come in around 5% below the prior year, with postIFRS16 EBITDA forecast at roughly 95m for FY26.
The AIM-listed firm said more than half of the drop stemmed from lower rugs shipments as production shifts from Belgium to Turkey, partly offset by marketshare gains in UK Carpets and strong trading in Australia. Excluding rugs, revenue slipped around 1.5%.
Victoria stated its immediate focus remained on EBITDA improvement initiatives and said it was currently adapting to a lowervolume environment with tighter governance and efficiency measures.
Victoria also said it was continuing to work on strengthening its capital structure, progress refinancing plans and advance cashgeneration initiatives, including property disposals and reductions in receivables and inventory.
As of 0920 GMT, Victoria shares were down 3.83% at 25.10p.
Reporting by Iain Gilbert at Sharecast.com
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