Full Year Trading Update and Notice of Results

RNS Number : 2525O

Victorian Plumbing Group plc

07 October 2021

 

7 October 2021

Victorian Plumbing Group plc

("Victorian Plumbing" or the "Group")

Full Year Trading Update and Notice of Results

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").

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.  

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.

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.

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 9^th December 2021.

-ENDS-

For further information, please contact:

Victorian Plumbing Group plc Mark Radcliffe, Chief Executive Officer Paul Meehan, Chief Financial Officer Rich Monaghan, Director of Finance	via FTI Consulting [phone]
FTI Consulting (Financial PR) Alex Beagley Eleanor Purdon Sam Macpherson	[phone] [e-mail]
GCA Altium Limited (Nominated Adviser) Sam Fuller, Paul Lines, Mitchell Parr	[phone]
Barclays Bank PLC (Joint Broker) Nicola Tennent, Stuart Muress	[phone]
Numis Securities Limited (Joint Broker) Luke Bordewich, Tom Jacob, Oliver Steele	[phone]

About Victorian Plumbing Group

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.

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.

Headquartered in Skelmersdale, Lancashire, the Group employs over 500 staff across seven locations in Skelmersdale, Manchester and Birmingham.

 

END

 

 

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