Victoria Carpets issues profits warning but says it has increased market share

3rd February | flooring | Flooring supplier Victoria Carpets says its full year results will be ‘significantly below market expectations.’ The Kidderminster carpet manufacturer saw an 18.7% drop in UK like for like sales in the three months to December 2008, with Irish sales falling 28% compared with the same period in 2007.

However, the firm said that all its business units remained profitable and it believed it had grown its market share. The company said job losses and the weak housing market had dented consumer confidence and these factors combined were making trading ‘extremely difficult.’