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

Victorian PlumbingAnnouncement

Tue 07:00

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RNS Number : 2746C  Victorian Plumbing Group PLC  07 October 2025

7 October 2025

 

Victorian Plumbing Group plc

("Victorian Plumbing" or the "Group")

 

Full Year Trading Update and Notice of Results

 

Victorian Plumbing (AIM: VIC), the UK's leading bathroom retailer, today
provides an update on trading for the financial year ended 30 September 2025
("FY25").

 

Trading Update

 

Group revenue for FY25 is in line with market expectations, increasing by c.5%
to c.£310m (FY24: £295.7m), despite a challenging macroeconomic environment,
with the UK Home Improvements & DIY market declining by an estimated 3%(1)
over the same period. Our performance reflects continued market share gains,
underpinned by the strength of our product range and availability.

 

Customer demand for Victorian Plumbing (excluding MFI) remained robust, with
FY25 order volumes growing by 6% and a record 1,080,000 orders delivered in
the year (FY24: 1,022,000). There was little variation in average order value,
which stood at £287 (FY24: £289).

 

Strategic initiatives continued to deliver strong results, driven by our
warehouse transformation, improved delivery speeds, and the introduction of
free tile samples, with notable contributions from:

 

·    Trade revenue, which grew c.10% to c.£74m (FY24: £67m), now
contributing c.24% of Group revenue (FY24: 23%)

·     Tiles & décor revenue, which surged c.40% to c.£17m (FY24:
£12m), increasing to c.5% of Group revenue (FY24: 4%)

 

Adjusted EBITDA increased by c.17% to c.£31.8m (FY24: £27.2m), in line with
the top end of market expectations, driven by revenue growth and improved
marketing efficiency. Adjusted PBT is also in line with the top end of market
expectations at c.£21.8m (FY24: £23.1m), whilst cash conversion remains
strong.

 

MFI Update

 

We began taking orders via mfi.co.uk during the summer, following a soft
launch of the reimagined brand in July. The response from customers has been
very encouraging to date and we continue to build the product range ahead of
its full launch in H1 2026. The Group's investment into MFI remains
disciplined and in line with the guidance given at the interim results on 14
May 2025.

 

Notice of Preliminary Results

 

Preliminary results for FY25 will be published on 3 December 2025.

 

 

Mark Radcliffe, CEO of Victorian Plumbing, commented:

"I am pleased to report another solid financial and operational performance
following an exciting twelve months for the Group. Our own brand proposition
and availability of a wide range of high-quality bathroom products and
accessories continue to resonate with our customers.

 

"Our new state of the art distribution centre continues to enable us to fulfil
orders more efficiently and support our ambition to grow both our trade and
expansion categories. We have also continued our strategic investment in the
Victorian Plumbing brand and were pleased to soft launch the MFI brand in
July. The feedback from customers has been positive and we look forward to
growing the proposition and launching a broader range of products in H1 2026."

 

 

(1) Barclays UK Consumer Spend Report

-ENDS-

 

For further information, please contact:

 

 Victorian Plumbing Group plc                           via FTI Consulting

 Mark Radcliffe, Chief Executive Officer                +44 20 3727 1000

 Daniel Barton, Chief Financial Officer

 FTI Consulting (Financial PR)                          +44 20 3727 1000

 Alex Beagley, Harriet Jackson, Amy Goldup, Lia Bevan   VictorianPlumbing@fticonsulting.com

                                                      (mailto:VictorianPlumbing@fticonsulting.com)

 Houlihan Lokey UK Limited (Nominated Adviser)          +44 20 7839 3355

 Sam Fuller, Tim Richardson

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

 Nicola Tennent, Stuart Muress

 Canaccord Genuity Limited (Joint Broker)               +44 20 7597 5970

 Bobbie Hilliam, Elizabeth Halley-Stott

 

About Victorian Plumbing Group

Victorian Plumbing is the UK's leading bathroom retailer, offering an
unrivalled high-quality product range and excellent stock availability to B2C
and trade customers.

Victorian Plumbing offers its customers a one-stop shop solution for the
entire bathroom with own and third party brands across a wide spectrum of
price points. Victorian Plumbing product design and supply chain strengths are
complemented by its creative and brand-focused marketing strategy to drive
significant and growing traffic to its platforms.

Announced in 2025, the Group also includes MFI, an online-only UK retailer,
offering a growing range of stylish homewares and furniture.

Headquartered in the North West, Victorian Plumbing and MFI employ staff
across several locations in the UK.

 

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