- Revenue fell 1% year-on-year to £144.6m in the six months to March 31.
- The Lancashire-based company also recorded an 8% rise in gross profit to £72.3m.
Victorian Plumbing saw a slight drop in revenue over the interim period despite a rise in profits in what it described as a “strong first half performance”.
Britain’s leading bathroom retailer told investors on Tuesday that revenue fell 1 percent year-on-year to £144.6 million in the six months to March 31.
However, the Lancashire-based company added that saw an 8 per cent rise in gross profit to £72.3m over the same period.
Britain’s leading bathroom retailer told investors on Tuesday that revenue fell 1 percent year-on-year to £144.6 million in the six months to March 31.
In a statement, the group said its gross margins improved due to “lower shipping costs and a shift towards own-brand products.”
It also added that total orders rose 2 percent to 494,000, reflecting continued market share gains in a “moderate business environment.”
Mark Radcliffe, founder and chief executive of Victorian Plumbing, said: “This strong performance in the first half, our unchanged momentum in the remainder of the year and the exciting developments scheduled for the second half of 2024, gives the board confidence in our profitable growth strategy as we move forward. “Continue to deliver long-term value for all stakeholders.”
Earlier this month, Victorian Plumbing revealed it had acquired rival Victoria Plum in a deal worth £22.5 million.
The move came less than seven months after Doncaster-based Victoria Plum fell into administration.
He also revealed that “a cost reduction program is underway” at Victoria Plum, which will include job cuts.
Victorian Plumbing employs 600 people across nine sites in Lancashire, Manchester and Birmingham.
Victorian plumbing The shares rose 0.41 per cent to 98 pence in Tuesday afternoon trading.
