REG - Vic Plumbing - AGM Trading Update

Victorian PlumbingAnnouncement

02/03/2023 07:01

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RNS Number : 5757R  Victorian Plumbing Group plc  02 March 2023

2 March 2023

 

Victorian Plumbing Group plc

("Victorian Plumbing" or the "Group")

 

AGM Trading Update

 

Victorian Plumbing Group plc (AIM: VIC), the UK's leading online specialist
bathroom retailer, today provides an update on trading for the five months to
28 February 2023, in advance of the Annual General Meeting to be held at
9.30am today.

 

Victorian Plumbing continues to perform in line with the patterns of trade set
out in the update provided alongside its Full Year results on 6 December 2022.
The Group has maintained the strong start to the financial year and the Group
has delivered 10% revenue growth year to date, combined with an improvement in
gross margin and marketing spend efficiency versus the comparative period last
year.

 

The Group continues to focus on its long-term goals, making good progress
across all strategic growth areas. Since the Full Year results, the Group has
successfully replatformed the victorianplumbing.co.uk website to enable
further improvement to the customer journey and has also agreed a 20 year
lease for a new 544,000 square foot distribution centre in Lancashire to
support future growth plans.

 

The Group will report Interim Results for the six months ending 31 March 2023
on 23 May 2023.

 

 

-ENDS-

 

 

For further information, please contact:

 

 Victorian Plumbing Group plc                                via FTI Consulting

 Mark Radcliffe, Chief Executive Officer                     +44 20 3727 1000

 Paul Meehan, Chief Financial Officer

 Daniel Barton, Director of Finance and Company Secretary

 FTI Consulting (Financial PR)                               +44 20 3727 1000

 Alex Beagley, Eleanor Purdon, Harriet Jackson, Amy Goldup   VictorianPlumbing@fticonsulting.com

 Houlihan Lokey UK Ltd (Nominated Adviser)                   +44 20 7484 4040

 Sam Fuller, Tim Richardson

 Barclays Bank PLC (Joint Broker)                            +44 20 7623 2323

 Nicola Tennent, Stuart Muress

 Numis Securities Limited (Joint Broker)                     +44 20 7260 1000

 Luke Bordewich, Oliver Steele

 

About Victorian Plumbing Group

 

Victorian Plumbing is the UK's leading online specialist bathroom retailer,
offering a wide range of over 32,000 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 focuses on
online channels to drive significant and growing traffic to its website.

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