Victorian Plumbing
This coverage examines Victorian Plumbing’s strategic developments within the UK retail sector, focusing on its operational shifts, brand consolidation, and expansion initiatives. Reporting includes the closure of Victoria Plum following its acquisition, the launch of a new semi-automated distribution centre in Leyland, and the planned reintroduction of the MFI brand into the homewares market. Insights are tailored for retail professionals overseeing operations, mergers and acquisitions, and category expansion strategies in the home improvement and e-commerce sectors.
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May- 2024 -28 MayNews
Today’s news in brief-28/5/24
Shop price inflation has returned to normal levels, with the British Retail Consortium (BRC) reporting a decrease in annual shop price inflation from 0.8% in April to 0.6% in May. This marks the lowest rate since November 2021 and is below the three-month average rate of 0.9%. Non-food items remained…
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28 MayNews
Victorian Plumbing revenues dip to £144.6m in H1
Victorian Plumbing’s revenues dipped 1% to £144.6m in the six month period ended 31 March. Gross profits were up 8% to £72.3m however, with a gross profit margin increasing 4% points to 50% representing the highest gross margin since listing in 2021, underpinned by own brand sales. The bathroom products…
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20 MayNews
Today’s news in brief-20/5/24
Asda reported a robust financial performance for Q1 2024, with a 6.6% increase in total revenues (excluding fuel) to £5.3bn and a 1.4% rise in like-for-like sales. The supermarket chain saw notable growth in its George at Asda clothing line and homewares, with the latter boosted by the new Stacey…
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20 MayHigh Street
Victorian Plumbing Group acquires Victoria Plum for £22.5m
Victorian Plumbing, the bathroom retailer, has announced the acquisition by Victorian Plumbing Limited, a subsidiary of the company, of the entire issued share capital of AHK Designs Ltd, trading as Victoria Plum in a £22.5m deal. The acquisition of the online only bathroom retailer is on a cash free, debt…
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Feb- 2024 -27 FebruaryNews
Today’s news in brief-27/2/24
Shop price inflation reached its lowest level since March 2022, dropping to 2.5% in February, according to new figures from the British Retail Consortium (BRC). This decline was attributed to easing input costs for energy and fertilisers, resulting in lower food prices. However, non-food inflation remained stable, with clothing prices…
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27 FebruaryDIY
Victorian Plumbing FY24 EBITDA in line with expectations
Bathroom retailer Victorian Plumbing expects to deliver full-year adjusted EBITDA in line with market expectations, as an increase in own brand product sales improved the group’s gross margins. During the first 21 weeks of FY24, the retailer saw that customers continued to seek value by purchasing more own brand products,…
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Nov- 2023 -22 NovemberDepartment Stores
Victoria Plumbing sees revenues and profits rise in FY 2023
Victorian Plumbing Group has reported a 26% increase in operating profits to £15.3m and a 6% increase in revenues to £285.1m, for the year ended 30 September 2023. Its gross profit was up 11% compared with last year at £134.6m and adjusted EBITDA also increased 22% to £23.8m. The group…
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Oct- 2023 -5 OctoberDIY
Victoria Plumbing revenues rise 6% in FY23
Victoria Plumbing revenues have increased by 6% in the year ended 30 September, largely due to an increase in order volumes. The group noted that average order values have also remained in line with the previous year, with a continuation of the positive trends experienced in H1, including favourable market…
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May- 2023 -23 MayDIY
Victoria Plumbing revenues up 10% in H1
Victoria Plumbing has revealed that half-year revenues increased 10% year-on-year to £146.8m for the six months ended 31 March, compared with £133.9m in the same period last year. In addition, the bathroom retailer has improved its gross profit for the period, increasing 14% year-on-year to £66.8m, with the gross profit…
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Mar- 2023 -2 MarchDIY
Victorian Plumbing welcomes strong start to FY23
Victorian Plumbing has welcomed a “strong” start to the financial year, with revenues up by 10% in the five months to 28 February 2023.Over the period, it also reported an improvement in gross margin and marketing spend efficiency versus the comparative period last year. This performance was said to be…
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