Victorian Plumbing reports 9% interim revenue growth as CEO departs

(Alliance News) - Victorian Plumbing Group PLC on Wednesday said its founder and Chief Executive Officer Mark Radcliffe will step down at the end of March, as it reaffirmed its full-year outlook noting that "positive momentum" continued into the second quarter of the financial year.

The company also announced it has completed the acquisition of Sovereign Transport Services Ltd and Sovereign Commercials Ltd on January 31 for GBP3.4 million, some five times the two companies' earnings before interest, tax, depreciation, and amortisation, paid almost entirely in cash from Victorian's reserves.

Radcliffe, who founded the Leyland, England-based online bathroom retailer in 2000, will relinquish his role but will stay on the company's board as a non-executive director, remaining "actively engaged with the group and its strategic director".

No reason has been given on the driver of the resignation from the CEO role, but he said that the company "has been on an amazing journey in the 25 years since I founded it and I feel that now is the right time to hand over the reins".

Current Managing Director Stephnie Judge will replace him from April 1. The company says it is confident that "her extensive operational experience and intimate knowledge of the business mean Stephnie is ideally placed to lead" it, and praised her leadership since joining Victorian Plumbing in 2013.

Judge said: "I am honoured and excited to take over from Mark as CEO of Victorian Plumbing...I am confident that the strategy we have put in place together is the right one, and I look forward to working with the executive leadership team and Mark in his new founder director role."

Additionally, the company said revenue increased by 9% in the first 21 weeks of financial year 2026, "driven by order volume growth across all categories with margins maintained at historic levels", confirming its full-year outlook.

It has also applied to admit 65,000 new shares on its London listing as part of its deal with Sovereign's transportation and hauling entities, which the company says will provide "increased control over customer fulfilment and an opportunity to improve other areas of transportation over the medium term".

Victorian Plumbing shares were down 0.2% to 84.20 pence each on Wednesday afternoon in London.

By Martin Miraglia, Alliance News reporter

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Victorian Plumbing