Victorian Plumbing bucks trend as bathroom retail sales surge
Victorian Plumbing has defeated the trend amid a subdued bathroom market and lauded rising sales this year.
In full year results, the AIM-listed firm said it was trading ahead of consensus market expectations, both revenue and earnings wise.
Its second-half revenue was up around per cent on last year, with sales performing especially well in the fourth quarter.
Revenue increased 78 per cent for the full year when compared to pre-pandemic levels.
Last summer, the company became a listed company in the biggest ever float on London’s junior market.
The group launched on to the Alternative Investment Market (Aim) with shares priced at 262p, giving it an initial valuation of around £850m, before the stock quickly jumped higher to settle at around 309p after reaching 314p at one stage.
Chief executive Mark Radcliffe, who founded the Lancashire-based firm in his parents’ garden shed back in 2000, said at the time that the initial public offering was a “landmark day in the history of Victorian Plumbing”.