7 Oct 2021 07:00
7 October 2021
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Victorian Plumbing Group plc
("Victorian Plumbing" or the "Group")
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Full Year Trading Update and Notice of Results
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Victorian Plumbing Group plc (AIM: VIC), the UK's leading online retailer of bathroom products and accessories, today provides an update on trading for the year ended 30 September 2021 ("FY21").
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The Board is pleased to report that the financial year finished positively with revenue growth of c.29% for FY21. This reflects strong trading in the first three quarters of the year, more subdued market conditions as lockdown restrictions were eased, before customer demand improved in September.
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Whilst revenue growth moderated over the summer, gross margins remained strong throughout and adjusted EBITDA for FY21 is anticipated to be ahead of market expectations.
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Given the widely publicised global supply chain issues that have been affecting many companies, the Group has been proactive in optimising its stock holding going into the new financial year.
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The Group continues to progress all of the operational and strategic opportunities outlined at the time of the IPO. Management will provide a further update in the Group's maiden preliminary results, which will be announced on 9th December 2021.
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-ENDS-
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For further information, please contact:
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Victorian Plumbing Group plc Mark Radcliffe, Chief Executive Officer Paul Meehan, Chief Financial Officer Rich Monaghan, Director of Finance | via FTI Consulting +44 20 3727 1000 |
FTI Consulting (Financial PR) Alex Beagley Eleanor Purdon Sam Macpherson  | +44 20 3727 1000 VictorianPlumbing@fticonsulting.com |
GCA Altium Limited (Nominated Adviser) Sam Fuller, Paul Lines, Mitchell Parr | +44 20 7484 4040 |
Barclays Bank PLC (Joint Broker) Nicola Tennent, Stuart Muress | +44 20 7623 2323 |
Numis Securities Limited (Joint Broker) Luke Bordewich, Tom Jacob, Oliver Steele | +44 20 7260 1000 |
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About Victorian Plumbing Group
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Victorian Plumbing is the UK's leading online retailer of bathroom products and accessories, offering a wide range of over 24,000 products to B2C and trade customers. Victorian Plumbing offers its customers a one-stop shop solution for the entire bathroom with more than 125 own and third-party brands across a wide spectrum of price points.
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The Group's product design and supply chain strengths are complemented by its creative and brand-focused marketing strategy, which predominantly focus on online channels to drive significant and growing traffic to its website.
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Headquartered in Skelmersdale, Lancashire, the Group employs over 500 staff across seven locations in Skelmersdale, Manchester and Birmingham.