REG - Victorian Plumbing - AGM Trading Update, Acquisition & Results Notice

Victorian PlumbingAnnouncement

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RNS Number : 2482U  Victorian Plumbing Group PLC  25 February 2026

25 February 2026

 

Victorian Plumbing Group plc

("Victorian Plumbing" or the "Group")

 

AGM Trading Update, Acquisition and Notice of Results

 

 

Victorian Plumbing (AIM: VIC), the UK's leading bathroom retailer, today
provides an update on trading for the first 21 weeks of its financial year
ending 30 September 2026 ("FY26"), in advance of its Annual General Meeting
which is being held today at 9:30am GMT.

 

The Group is also announcing the bolt on acquisition of a transportation
services business and providing notice of its interim results.

 

AGM Trading Update

 

The Board is pleased to report that the positive momentum experienced in Q1,
as highlighted in the announcement of the Group's FY25 Results on 3 December
2025, has continued into Q2. Revenue for the first 21 weeks of FY26 increased
by 9%, driven by order volume growth across all categories with margins
maintained at historic levels.

 

The Board is confident in delivering FY26 revenue and adjusted PBT in line
with current market expectations(1).

 

Acquisition, Listing Application and Total Voting Rights

 

On 31 January 2026, Victorian Plumbing acquired the entire issued share
capital of Sovereign Transport Services Limited and Sovereign Commercials
Limited (together "Sovereign"). Sovereign is a transportation services
business based in Merseyside, providing haulage services to the Group and to a
small number of other goods-based businesses in the North of England. The
acquisition provides the Group with increased control over customer fulfilment
and an opportunity to improve other areas of transportation over the medium
term.

 

The purchase price (net of cash acquired) of £3.4m is subject to adjustments
for normalised working capital and represents c.5x Sovereign's estimated
annual adjusted EBITDA. The acquisition has been funded almost entirely from
the Group's existing cash reserves, with 65,000 new ordinary shares of £0.001
each in the Company ("Consideration Shares") to be allotted and issued to the
seller in part satisfaction of the purchase price payable. Acquisition related
fees are expected to be c.£0.4m.

 

An application has been made to the London Stock Exchange for the
Consideration Shares to be admitted to trading on AIM ("Admission"). Admission
is expected to become effective and trading is expected to commence in the
Consideration Shares at 8.00am on 27 February 2026. When issued, the
Consideration Shares will rank pari passu with the existing ordinary shares of
£0.001 each in the Company ("Ordinary Shares").

 

Following Admission, the Company's issued share capital will comprise
328,769,068 Ordinary Shares, each carrying the right to one vote. This figure
of 328,769,068 may therefore be used by shareholders as the denominator for
calculations by which they will determine whether they are required to notify
their interest in, or a change to their interest in, the Company under the
FCA's Disclosure Guidance and Transparency Rules.

 

Notice of Results

 

The Group will report its interim results for the six months ending 31 March
2026 on 19 May 2026.

 

(1) Victorian Plumbing believes that current consensus market expectations for
FY26 are for revenues of £329.5m and adjusted PBT of £21.9m.

 

-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, Harleena Chana   VictorianPlumbing@fticonsulting.com

 Houlihan Lokey UK Ltd (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 Scott

 

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.

Launched 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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