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Victorian Plumbing FY21 sales rise 29%

The online retailer said the growth reflected ‘strong’ trading in the first three quarters of the year and more ‘subdued’ market conditions as lockdown restrictions were eased, before customer demand improved in September

Victorian Plumbing Group has reported revenue growth of 29% for the full-year ending 30 September 2021.

The online retailer said the growth reflected “strong” trading in the first three quarters of the year and more “subdued” market conditions as lockdown restrictions were eased, before customer demand improved in September.

During the period the group made its stock market debut with an initial market capitalisation of £850m.

With the boost of sales, the group said it now anticipates adjusted EBITDA for FY21 to be “ahead” of market expectations.

The company said: “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 December 2021.”

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