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Victorian Plumbing Group plc issued an AGM trading update on 2 March 2023 for the five months to 28 February 2023, reporting 10% revenue growth year to date. The Group replatformed its victorianplumbing.co.uk website and agreed a 20-year lease for a new 544,000 square foot distribution centre in Lancashire. Interim Results for the six months ending 31 March 2023 are scheduled for 23 May 2023.
| Date | 2 Mar 2023 |
| Time | 07:00:03 |
| Category | Trading updates |
| ID | 5757R |
2 March 2023
Victorian Plumbing Group plc
("Victorian Plumbing" or the "Group")
AGM Trading Update
Victorian Plumbing Group plc (AIM: VIC), the UK's leading online specialist bathroom retailer, today provides an update on trading for the five months to 28 February 2023, in advance of the Annual General Meeting to be held at 9.30am today.
Victorian Plumbing continues to perform in line with the patterns of trade set out in the update provided alongside its Full Year results on 6 December 2022. The Group has maintained the strong start to the financial year and the Group has delivered 10% revenue growth year to date, combined with an improvement in gross margin and marketing spend efficiency versus the comparative period last year.
The Group continues to focus on its long-term goals, making good progress across all strategic growth areas. Since the Full Year results, the Group has successfully replatformed the victorianplumbing.co.uk website to enable further improvement to the customer journey and has also agreed a 20 year lease for a new 544,000 square foot distribution centre in Lancashire to support future growth plans.
The Group will report Interim Results for the six months ending 31 March 2023 on 23 May 2023.
-ENDS-
For further information, please contact:
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Victorian Plumbing Group plc Mark Radcliffe, Chief Executive Officer Paul Meehan, Chief Financial Officer Daniel Barton, Director of Finance and Company Secretary
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via FTI Consulting +44 20 3727 1000 |
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FTI Consulting (Financial PR) Alex Beagley, Eleanor Purdon, Harriet Jackson, Amy Goldup
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+44 20 3727 1000 |
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Houlihan Lokey UK Ltd (Nominated Adviser) Sam Fuller, Tim Richardson |
+44 20 7484 4040 |
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Barclays Bank PLC (Joint Broker) Nicola Tennent, Stuart Muress |
+44 20 7623 2323 |
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Numis Securities Limited (Joint Broker) Luke Bordewich, Oliver Steele |
+44 20 7260 1000 |
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About Victorian Plumbing Group
Victorian Plumbing is the UK's leading online specialist bathroom retailer, offering a wide range of over 32,000 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 focuses on online channels to drive significant and growing traffic to its website.