Formby based bathroom retailer is now a leading player in the UK sector with a huge surge in both revenues and profits. Tony McDonough reports
Merseyside-based online bathroom retailer Victorian Plumbing is reporting a big rise in revenues and pre-tax profits as sales soar.
For the 12 months to the end of September 2019, the Formby-based business enjoyed a 28% surge in revenues to £151m and a even more impressive 188.6% rise in pre-tax profit to £10.1m.
Victorian Plumbing is now claims to be the largest bathroom retailer in the UK, a significant achievement in what it says has been a difficult year for the bathroom industry, amidst buyouts and administrations encountered by its competitors.
Managing director Mark Radcliffe said: “I’m really pleased to stop and assess what we have achieved, from humble beginnings in a garden shed to the largest UK bathroom retailer. It’s a real testament to the team’s efforts and relentless pursuit of perfection.
“It’s been a year when competitors have pointed the finger at a variety of factors such as the housing market, Brexit and consumer confidence, but the fact that we’ve succeeded where they haven’t shows that it’s our staff and people that make the difference.”
In its annual report posted on Companies House, Victorian Plumbing says it intended to invest in new technologies over the coming year to “enhance” the customer experience. It will also further increase its marketing budget to grow the reach of its online brand.
Mr Radcliffe added: “We constantly aim to be better than the competition in all areas with exciting targets set by the teams and so much care and pride throughout. I’m really excited about the future of Victorian Plumbing, with much more still to come.”