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Profits grew 62 per cent at floorcoverings giant Abingdon before the business was sold to the Victoria carpets and flooring group this autumn.


The multi-site manufacturer and distributor grew group sales by 6.8 per cent to £75.1m in the year to end March, with profits at the pre-tax line reaching £2.2m, up nearly two-thirds on the prior year. Gross margin increased 190 basis points to 15.1 per cent.


The group said sales in its main Abingdon division were up 2.7 per cent, by 11.5 per cent in its Alliance Flooring storage and distribution division while Distinctive Flooring — its smooth floorcoverings business — grew sales by 27 per cent.


Victoria PLC announced at the beginning of October that it was to acquire Abingdon in a deal worth £7.7m cash up front with another £4.5m payable if profit targets are hit.



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