London, England, October 7, 2005 -- Shares in carpet maker Victoria came under pressure after it warned that that full-year profits are likely to be "significantly lower" than current market expectations, according to a report from ShareCast.
Shares tumbled over 17% as the market took in the group's cautionary statement.
"In the light of current trading conditions and the lack of any visible upturn in market prospects, the directors are now taking a more cautious view of the outlook for the remainder of the financial year," Victoria said in a company announcement.
However, the group does intend to maintain the same level for its annual dividend.
Last year the group warned that interest rate rises coupled with growing concern over the health of the housing market had tempered consumer confidence, a major ingredient to its business.
Today it added that the interim results are expected to show a slight rise over the same period last year.
