Victoria PLC (VCP.L), a flooring manufacturer, reported Wednesday that its fiscal 2024 net loss after tax widened to 108.0 million pounds from last year's loss of 91.8 million pounds.
Loss per share was 93.85 pence, compared to loss of 79.35 pence in the prior year.
Underlying profit before tax was 27.1 million pounds, compared to prior year's 76.9 million pounds. Adjusted earnings per share were 19.12 pence, compared to 39.06 pence last year.
Revenue for the year dropped to 1.27 billion pounds from last year's 1.48 billion pounds. Underlying revenue was 1.26 billion pounds, compared to 1.46 billion pounds a year ago.
The company noted that flooring demand fell more than expected, impacting revenue and margins. The fiscal year 2024 was the first year of negative revenue and earnings growth for more than 10 years.
The company further issued cautious outlook for fiscal 2025, but said strong operational fundamentals in place as demand normalises.
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