Bathroom retailer Victorian Plumbing Group has announced record orders of over one million and 4% growth in revenue for 2024.

Its full year trading results for 2024 reported, excluding the impact of the acquisition of Victoria Plum, revenue growth of 1% on a like-for-like basis.

According to the company, adjusted EBITDA for 2024 is anticipated to be in line with market expectations.

Sponsored Video

TWO-MINUTE TOUR: Luxury bathroom showroom Bathe Indigo just opened in Pinner, Middlesex

Victorian Plumbing Group reported customer demand, together with the acquisition, has driven market share gains and order volume growth of 10% versus 2023 (or up 3% on a like-for-like basis).

In addition, it announced a “record” 1,021,000 orders delivered, up on last year which recorded 932,000.

Victorian Plumbing offers over 34,000 products to B2C and trade customers, with  more than 150 own and third party brands.

Average order values have reduced around 5% (4% like-for-like), as the retailer reports consumers are choosing own-brand products.

However, it states this has been offset by strong gross margin gains, which increased 300bps to 50%.

Victorian Plumbing has announced Doncaster-based bathroom retailer Victoria Plum, which it acquired on May 17, 2024 and which contributed £15m revenue and incurred  EBITDA loss of around £2million since acquisition,  will close operations by December 31, 2024.

The Group confirmed its new 544,000sqft, semi-automated distribution centre in Leyland, Lancashire, is operational (pictured), with more than half of all daily orders being dispatched from the new site.

Management expects all orders to be dispatched from the new distribution centre by the end of the calendar year.

Preliminary results for the year ended 30 September 2024 will be published on January 15, 2025.

Mark Radcliffe, CEO of Victorian Plumbing, commented: “I am pleased with the Group’s performance in FY24 which has been a very busy year for Victorian Plumbing.

“We have increased profitability, as our higher margin own brand proposition continues to resonate with customers and consolidated our leading position as the UK’s number one bathroom retailer.

“At the same time, we have delivered a year of transformational change with significant investment in our people, technology and operations.

“Our state of the art new distribution centre is now operational and will remove previous capacity constraints, enabling us to serve customers more efficiently and execute on our strategic growth plans in our expansion categories and our trade proposition.

“Moreover, the recent decision to close Victoria Plum provides the Group with a significant opportunity to accelerate growth and continue to further the investment in our brand and marketing.

“This positive momentum and the successful delivery of our warehouse transformation reaffirms confidence in our profitable growth strategy that is delivering long-term value for all stakeholders.”

Headquartered in Leyland, the Group employs over 600 people across several locations in Lancashire,Manchester and Birmingham.