October 13, 2021
The online bathroom retailer Victorian Plumbing reported a 29% increase in sales for the year ended September 30th.
In its updated trading announcement, Victorian Plumbing Group plc said, “The fiscal year ended on a positive note with sales growth of approximately 29%. This reflects strong trading in the first three quarters of the year and more subdued market conditions as lockdown restrictions were relaxed before customer demand improved in September. “
The Lancashire-based company expects its adjusted earnings (EBITDA) to be above market expectations.
For the six months ended March 2021, Victorian Plumbing had sales of £ 140.7 million and adjusted earnings (EBITDA) of £ 20.1 million.
Victorian Plumbing Ltd’s published financial statements put 2020 sales at £ 209.9m, up from £ 151.8m in 2019, with a pre-tax profit of £ 25.9m versus £ 10.1m in 2019.
In its statement, the group said it had proactively optimized its inventory levels in light of the supply chain issues that have plagued the supply chain.
These are the group’s first results since they posted 0.001 apiece on the 2nd. The share price started at 330 pence and is now 186 pence.
Founder and CEO Mark Radcliffe said at the time: “I am incredibly proud of all of our employees who built this unique business and, together with a tough company, developed an incredibly strong, exciting and trustworthy brand – a culture of work and innovation.
“As we are now the UK’s leading online bathroom products retailer, it seems like an ideal time to get into the UK stock market. With the extensive industry expertise and talent of our senior team members and the fundamental strengths of our proven business model in a growing market, we look forward to the significant growth opportunities that lie ahead for Victorian Plumbing. “
The full annual results of the group are expected to be released on December 9th.
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