Victoria floored as losses widen and debt piles up Proactive uses images sourced from ShutterstockVictoria PLC (AIM:VCP) shares fell 6.1% to 67.6p after the flooring group reported lower annual revenue and earnings, a wider statutory loss and increased debt. The statutory net loss widened 18.3% to £326.3 million, reflecting asset impairments, refinancing expenses, restructuring costs and charges linked to preferred equity. Net debt, including lease liabilities, rose 18.4% to £1.06 billion, pushing the net debt-to-EBITDA ratio to 11.5 times from 7.9 times. Victoria said trading improved during the first quarter of the new financial year, with volumes rising around 3% and revenue increasing around 7%. Victoria is also targeting around £70 million from property disposals as it looks to reduce leverage.