Victorian Plumbing reports surge in sales

Online bathroom retailer Victorian Plumbing says full-year revenue, earnings, and cash flow will finish ahead of expectations after surge in sales this year. Tony McDonough reports

Victorian Plumbing
Victorian Plumbing saw a surge in sales in the second half of its fiscal year


Victorian Plumbing has offered an upbeat trading statement ahead of the publication of its full-year results.

The Skelmersdale-based business, which floated on the stock exchange in 2021, says revenue, earnings, and cash flow will finish ahead of expectations for the 12 months to September 30. In May it reported a fall in revenue and profits for the first half of the year.

Due to announce its full-year results on December 6, Victorian Plumbing says revenue in the second half of its fiscal year was up 5% on last year. Full-year revenues are expected to be “broadly unchanged” from last year when they came in at £268.8m. However, they are likely to be 78% ahead of pre-COVID in 2019.

Thursday’s statement said: “Against a wider bathroom market that is down year on year, this establishes Victorian Plumbing’s position as the No 1 bathroom retailer in the UK.”

It added the business continues to be highly cash generative and will start the new financial year with more than £43m of net cash.

“We have maintained a strong inventory position in order to maximise availability and minimise the risks from supply chain disruption,” the company said.

“While the operating and economic environment is challenging, as a highly cash generative business with a strong balance sheet and growing momentum through 2022 we enter the new financial year with confidence in our plans for further progress.”

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