UK's Victorian Plumbing H1 revenue rises 10.5%, EPS falls

Victorian Plumbing

19/05/2026 07:09

Overview

UK bathroom retailer's H1 revenue rose 10.5% yr/yr, driven by higher order volumes

Adjusted diluted EPS fell 17.9% yr/yr, reflecting investment in MFI and higher distribution costs

Company acquired Sovereign Transport Services to increase control over customer fulfilment

Outlook

Victorian Plumbing expects  more subdued consumer environment for H2 2026

Company expects FY26 revenue and adjusted PBT in line with market expectations

Victorian Plumbing remains vigilant to inflationary pressure from imports and energy prices

Result Drivers

ORDER VOLUME GROWTH - 12% increase in total orders, driven by market share gains and growth in tiles and flooring

TILES AND FLOORING EXPANSION - Tiles and flooring revenue rose 84%, supported by infrastructure investment and enhancements to customer proposition

PLANNED INVESTMENT IMPACT - Adjusted PBT and EPS declined, reflecting planned investment in MFI and higher distribution centre costs

Company press release: ID:nRSS8002Ea

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
GBP 168.80 mln
H1 Adjusted EPS
GBP 0.02
H1 Adjusted EBITDA
GBP 15.40 mln
H1 Gross Margin
49.70%
H1 Adjusted EBITDA Margin
9.10%
H1 Adjusted Pretax Profit
GBP 9.40 mln
H1 EBIT
GBP 9.80 mln
H1 Gross Profit
GBP 83.90 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the home furnishings peer group is "buy"

Wall Street's median 12-month price target for Victorian Plumbing Group PLC is GBp104.00, about 32.5% above its May 18 closing price of GBp78.50

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 16 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)