REG - Victorian Plumbing - Full Year Trading Update and Notice of Results

Victorian PlumbingAnnouncement

07/10/2021 07:05

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 9th 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
+44 20 3727 1000














FTI Consulting (Financial PR)
Alex Beagley
Eleanor Purdon
Sam Macpherson
 


+44 20 3727 1000
VictorianPlumbing@fticonsulting.com




GCA Altium Limited (Nominated Adviser)
Sam Fuller, Paul Lines, Mitchell Parr


+44 20 7484 4040














Barclays Bank PLC (Joint Broker)
Nicola Tennent, Stuart Muress


+44 20 7623 2323 














Numis Securities Limited (Joint Broker)
Luke Bordewich, Tom Jacob, Oliver Steele  


+44 20 7260 1000 













 
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. 

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  END
 
 
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