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Victoria says Italian business notches €100m of sales
StockMarketWire.com
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Flooring manufacturer Victoria said its Italian business had achieved €100 million of sales since the start of the financial year.
Victoria had in December 2017 began an expansion into Italy by acquiring Sassuolo-based ceramic tile manufacturer Ceramiche Serra -- a mid-sized factory with revenues at the time of €28 million.
Victoria said growth at the Italian business had accelerated over the last 12 months, with new significant customers and new markets - mainly in Eastern Europe and North America - being secured.
'As a result, on Friday 26 March, the business reached a remarkable milestone - invoicing €100 million of sales for the year since 30 March 2020,' it said.
'Organic growth has again filled capacity and some production is once more being outsourced,' Vicitoria added.
'Consequently, Victoria is now actively seeking to efficiently add further capacity to enable this production to be insourced to improve margins further as we are confident of additional growth in 2021/22.'
At 9:49am: (LON:VCP) Victoria PLC share price was 0p at 437.5p
Story provided by StockMarketWire.com
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