Victorian Plumbing posts strong full year revenue growth
Victorian Plumbing has reported finishing its financial year with revenue growth of around 29%.
The online bathroom retailer said it benefited from strong trading in the first three months of the year, which ended on 30 September. While this was followed by more subdued market conditions as lockdown restrictions were eased, customer demand improved in September.
Despite sales growth moderating over the summer, the retailer’s gross margins remained strong throughout the year so it is now anticipating that adjusted EBITDA for the full year will be ahead of market expectations.
In a statement, it said: “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.”
Victorian Plumbing offers a range of over 24,000 products to B2C and trade customers.
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