Online bathroom retailer Victorian Plumbing reported record revenues of £310 million for the 12 months ending 30 September 2025, marking a 5% increase over the previous year. Order volumes reached a record 1.1 million, up 6%, while average order value dipped slightly to £287, though it rose 3% in the second half of the year.
© Victorian Plumbing
Financial Highlights:
- Gross profit: £153.2m (up 4%), margin at 49.4%
- Adjusted EBITDA: £31.8m (up 17%), margin 10%
- Operating profit: £18m (up 61%), benefiting from the non-recurrence of last year's exceptional items
Key Growth Drivers:
- Trade revenue: Up 10% to £73.8m, representing nearly a quarter of turnover, supported by expanded logistics and delivery improvements
- Tiles and flooring: Jumped 42% to £17.6m, showing success in expanding product categories
- Own-brand mix: Now 81% of total revenue, reinforcing margin and brand control
- The company also conducted a soft relaunch of MFI in July, receiving early positive feedback with a Trustpilot score of 4.7. Full MFI launch is planned for 2026, though a loss of £2.6–3.4m is expected this year as product ranges expand.
CEO Mark Radcliffe highlighted Victorian Plumbing's strategic growth, operational improvements, and market-share gains, noting the company's strong cash generation and balance sheet position it well for long-term profitable growth despite a volatile consumer and economic backdrop.
This positions Victorian Plumbing as the UK's leading bathroom retailer, with confidence that its strategy will continue to deliver value to shareholders and stakeholders alike.
Source: www.kbbreview.com
