Flooring manufacturer Victoria PLC on Tuesday said its first quarter went to plan and demand ‘remains generally stable’.

Shares in the company rose 8.2% to 710.00 pence each in London on Tuesday morning.

The company backed its outlook for the year ended April 1.

Back in April, it said it expects to report an outcome in line with market expectations, which it put at a range of £1.36 billion to £1.52 billion for revenue and £196 million to £203 million for underlying earnings before interest, tax, depreciation, and amortisation.

Those numbers would represent revenue growth of at least roughly a third, and an underlying Ebitda rise of 20% at a minimum.

The first quarter of the new financial year went ‘in line with the board’s forecast and consistent with consensus expectations for FY24’.

‘Demand remains generally stable across the group’s markets and margins are improving in line with a fall in input costs. The company’s integration projects remain on schedule,’ Victoria said.

Victoria expects to report annual results on August 15.

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