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Victoria like-for-like sales up more than 3%; to close Melbourne underlay site

By BFN News | 07:42 AM | Wednesday 13 June, 2018


Flooring manufacturer Victoria said it would close a site in Melbourne to streamline its Australian business, while also reporting that it had experienced a positive start to the year. Victoria acquired its Australian underlay business as part of the purchase of Dunlop Flooring in January 2017. It had now decided to focus all manufacturing on the existing site in Sydney and to close the Melbourne operation when the current lease expires in 2019. Together with an investment of around A$2.1m (£1.2m) in new technology, the move was expected to improve raw material processing, finishing and packaging at the Sydney site, the company said. Turning to current trading, Victoria said that in the first two months of the new financial years, like-for-like sales were up over 3%. 'With this positive start to the year the board looks to the 2019 financial year ahead with confidence,' Victoria said. Story provided by StockMarketWire.com

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