// Victorian Plumbing sees strong half year performance with revenues reaching £146.8m
// Total orders for the period rose 6% on last year, up to 482,000
Victorian Plumbing has posted rising half year sales and profit throughout the six months to 31 March, as revenue jumped 10% to £146.8m.
Adjusted EBIDTA increased by 48% to £9.9m with total orders growing by 6% year-on-year to 482,000 as the business made market share gains.
The online retailer of bathroom products‘ average order value was also up by 3% to £305.
Looking ahead, the company said it will “remain mindful that its customers still face a series of inflation-related headwinds”, but said that thanks to its “resilient trading and market-leading proposition” it remains confident that it will deliver expectations for the full year.
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Victorian Plumbing recently signed a 20-year lease for a 544,000 sq ft purpose-built UK distribution centre in Lancashire, which it said is on track to open in the second half of next year.
Victorian Plumbing founder and chief executive Mark Radcliffe said: “Momentum from our strong delivery in the latter part of FY22 has built into the first half of this financial year.
“We have further increased our market share, building on our position as the UK’s No. 1 bathroom retailer, through our strategy and unique business model, which have remained constant since IPO.
“We are proud of our investment in a wide range of products, knowing customer choice is ever more important when considered against cost-of-living pressures.”
“Our new UK distribution centre will represent another key milestone and, together with ongoing investment in technology, this will enable further growth in the core bathroom category as well as strategic expansion in adjacent categories.”
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