Pimlico Plumbers boss Charlie Mullins takes home £4.9m in dividends

Plumbing millionaire Charlie Mullins bagged £4.9m in dividends from his Pimlico Plumbers business last year, according to new accounts. The figure includes £1.6m in post year end dividends.

In addition to dividends, Mullins and his son Scott, took home a combined £711,512 in pay for their work as directors of the company, taking their income from the company to over £5.5m.

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Revenue at the plumbing company rose to £43.4m in the year to ended May 2018, up more than 26 per cent on the previous year. Profits before tax were down, however, falling to £4.2m from £4.8m in the previous period. The company paid more than £800,000 in UK tax.

The accounts disclosed political donations of £16,750 and £25,000 to the Conservative Party and the Liberal Democrats, respectively. Mullins changed allegiance to support the Liberal Democrats after seeing “the open-door era for entrepreneurs at Number 10 was over” under Theresa May.

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In the past week, he promised to donate to the newly-formed Independent Group. Mullins told The Mirror lthat he would do “anything that can help delay or stop Brexit”.

It was reported last month that Mullins had abandoned an effort to find a buyer for a minority share of the plumbing company, which he is said to value at £100m.