Primary Recommendations

Victoria

June 2025

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

A surge in property completions due to the end of the stamp duty holiday is likely to have led to higher carpet sales in the UK but the market seems apathetic to this as it awaits news on restructuring of Victoria’s bonds. Meanwhile, Victoria’s update for the year to end March has guided sales to be at least £1.11bn, with adjusted EBITDA margins “broadly in line” with expectations. Q4 has shown sequential improvements in adjusted EBITDA margins following self-help progress, including £12m of savings from the fixed cost base in H1, with a further c. £20m per annum of savings being worked on. Since January, the UK assets have achieved successive monthly improvements. Profitability remains highly sensitive to a recovery in volumes ...

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Watches of Switzerland Group

Victoria - Bond refinance in the wings (February 2025)

Victoria (January 2024)

Victoria - Stockpile of ceramic tiles built (January 2023)

Victoria (November 2022)

Victoria - Eps of 46.3p forecast for next year (August 2022)

Victoria (May 2022)

Victoria (December 2021)

Victoria - Forecasts lifted 12% (November 2021)

Victoria (August 2021)

Victoria (July 2021)

Victoria (June 2021)

Victoria (April 2021)

Victoria - Reports best ever Q3 (February 2021)

Victoria - Tremendous acquisition opportunities (December 2020)

Victoria (June 2019)

Victoria (January 2018)

Victoria (December 2017)

Victoria (September 2017)

Victoria (March 2017)

Victoria - 5-way share split (October 2016)

Victoria (August 2016)

Victoria (May 2016)

Victoria - Eps forecasts upgraded to 80.1p and 105.5p (April 2016)

Victoria - To double sales within 18 months to US$1bn (March 2016)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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Victoria PLC is a leading designer, manufacturer and distributor of innovative flooring products. The Group has operations in the UK, Europe and Australia, employing approximately 2,600 people across more than 20 sites.