Victoria investors not impressed by fall in margins

Flooring specialist Victoria (LON:VCP) watched its shares roll 14.47% lower to 369.50p (as of 14:00 GMT). Management said that its strategy of aggressively pursuing market share in weak markets has led to the introduction of high volume, low margin lines as well as the temporary absorption of raw material price increases.

The company commented that it was seeing some success in terms of increased revenues and market share, but that it would begin to refocus on recovering some of the margin foregone during the drive for growth.