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Sparks commentary - Victoria

Consumer

Sparks - Victoria

More on this equity
Victoria (LSE:VCP) – higher EBITDA in H126
Published by Russell Pointon

Victoria’s H126 trading update indicates improving revenue momentum from Q1 (-11%)  to Q2 (-2%), although revenue has declined by 7% y-o-y in what remain weak markets, with lower volumes partially offset by higher average selling prices.  Management expects improving year-on-year growth in H2, but not enough to offset the weakness in H1 so that FY26 revenue will be down versus FY25.

From a profit perspective, the numbers look more encouraging with underlying EBITDA at £53m versus £50m in H125 and management expecting a higher profit for the full year.

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