Victorian Plumbing profits rose nearly 30% as it benefitted from more shoppers buying its own brand ranges and reduced shipping costs.
Adjusted pre-tax profits rose 29% to £20m in the year to 30 September 2023 as sales nudged up 6% to £285m.
The bathroom and kitchens retailer had a positive start to its new financial year as sales and margins continued to grow.
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Victorian Plumbing is set to open a new 544,000 sq ft distribution centre in the new year, which CEO Mark Radcliffe said would enable further growth and category expansion.
“We are confident that Victorian Plumbing’s profitable growth strategy will continue to deliver long-term value to all stakeholders,” he added.
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