Online bathroom retailer Victoria Plum has announced that its sales rose by a record 46% to £103m for the year ended 28 February 2021.
In addition, the Doncaster headquartered business added that its EBITDA increased by 115% to £4.5m. Over the same period, the company grew its headcount from 349 to 398.
2021 marks Victoria Plum’s 20th year in business and one-and-a-half years since the company was acquired by Leeds-based private equity fund Endless.
During that time, Victoria Plum said it has continued its successful management-led turnaround and transformation strategy under the leadership of chief executive, Paul McClenaghan.
Compared to the previous financial year, the retailer added that its users increased by 165% to 23.2 million whilst its sessions rose 194% to more than 51 million.
McClenaghan said: “We have an ambitious growth strategy, highly capable people throughout the company and a collective determination to further accelerate our rate of expansion. These latest record results validate our approach and provide us with the platform to progress our plans at pace.
“Elements of our results have benefitted from the speeding up of the structural shift to online retail throughout 2020. However, we were constantly evolving Victoria Plum as a pure play online retailer long before last year’s events happened and will continue to do so.”
He added: “We are confident that we will continue to grow at speed. Our market fundamentals are strong, we have the necessary scalable infrastructure in place and a clearly differentiated design and installation service that is experiencing rapidly increasing demand.
“In addition, the constant stream of valuable data and consumer insights we access and interpret enables us to quickly adapt our product offer to meet customers’ needs, keeping us ahead of the game. All this means we are ideally positioned to make Victoria Plum the most differentiated, most trusted and most respected bathroom provider.”