Victorian Plumbing Expects to Beat FY 2021 Adj Ebitda Forecasts

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Victorian Plumbing Expects to Beat FY 2021 Adj Ebitda Forecasts

By Ian Walker

Victorian Plumbing Group PLC announced on Thursday that after a strong performance in the first three quarters of the year, it expects adjusted EBITDA to outperform the market for fiscal year 2021.

The recently launched UK online bathroom products retailer said sales rose 29% for the year ended September 30, after weakening over the summer. However, gross margins have remained strong, she added.

“Given the widespread global supply chain problems affecting many companies, the group has been proactive in optimizing its stock holdings for the new fiscal year,” said Victorian Plumbing.

The company did not make the adjusted earnings before interest, taxes, depreciation and amortization for the year. However, according to FactSet and based on two analyst estimates, it is forecasting £ 39 million ($ 53 million).

Shares fell 14.50 pence, or 6%, to 225.50 pence at 0710 GMT.

The company began trading on London’s Junior AIM for 262.0p on June 22nd.

Write to Ian Walker at ian.walker@wsj.com