Merseyside-based national bathroom retailer Victorian Plumbing has seen earnings rocket by 152% to £29m in the past 12 months and is now creating new jobs. Tony McDonough reports
Mersey bathroom retailer Victorian Plumbing is posting record financial results for the third year running with sales up more than 37% to £207m.
In the 12 months to September this year Formby-based Victorian Plumbing dispatched more than 750,000 bathroom orders leading to a surge in revenue and earnings (EBITDA) which rocketed 152% to £29m.
The latest results come just days after the business announced a new recruitment drive. It is looking to grow its headcount by 20% by creating 80 new roles in logistics and customer service. It is also investing in an additional 50,000 sq ft of warehouse space.
A big lift in the appetite for home improvements across the UK during the COVID-19 lockdown has made a major contribution to the rising sales. Mark Radcliffe, chairman of Victorian Plumbing said that the company has ambitious plans to continue this growth trajectory into 2021.
“The fact that we are able to make these positive announcements is testament to the whole company pulling together to drive growth and profit across all areas of the business,” he explained.
“We already know we are the biggest online bathroom retailer in the UK and now we believe that these figures give us the largest market share and cement our standing within the vertical.
“We’re huge believers in investing in people and technology and that allows us to be better than the competition in all areas. I’m really excited about the future of Victorian Plumbing, with much more still to come.”