- Flooring retailer Victoria upgraded its annual earnings guidance, having benefited from a rush of redecorating and a hot property market.

Underlying pre-tax profit for the year through 2 April 2022 would be ahead of consensus market expectations, the company said.

'The demand for flooring experienced this year has primarily come from existing home owners redecorating,' Victoria said.

'However, the board expects demand to continue next year and beyond, due to the high level of housing transactions that has been experienced in many of the group's key markets this year.'

'Housing sales are a good 12-18 month leading indicator of remodelling-led demand for flooring, which is Victoria's core market.'

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