Victorian Plumbing Notes January Revenue Growth

Victorian Plumbing (AIM: VIC), the UK's leading bathroom retailer, today provides an update on trading for the first 21 weeks of FY25 ("the Period"), in advance of the Annual General Meeting to be held at 9:30am this morning.

The successful transition to our new semi-automated distribution centre, completed in December 2024, has enabled the Group to make further progress in our strategic growth areas:

• During January 2025, next day delivery service cut-off timing moved from midday to 3pm, an improved service which benefits our trade customers in particular;
  
  
• On 22 January 2025, the Group launched a free tile sample offering, which enables all customers to select up to three sample tiles via express checkout to be delivered free of charge; and
  
  
• On 17 February 2025, the Group launched a third party digital trade credit offering that is available to qualifying trade customers.

Early indications suggest that this improved offering has been well received by our customers. Since the Group's last trading statement, in relation to Q1 of FY25, we have seen the rate of revenue growth improve for January 2025 - and it is anticipated to have increased further again in February 2025. Overall, revenue for the Period is anticipated to be up 5% year-on-year, demonstrating the early success of our strategic growth initiatives and the enhanced capabilities that our new distribution centre brings. 

Gross profit margin improvement continues in line with the previous financial year as sales of our own brand range continues to grow as a proportion of the overall Group. 

Our three growth horizons continue to build momentum and we are pleased that Tiles and Décor is expected to grow by 30% in the Period. We will continue to prioritise expansion category and trade growth alongside our efficient marketing strategy in core bathroom.

The closure of Victoria Plum is now complete, and all stock has been transferred. The Group exited the lease in Doncaster on 31 January 2025. 

Despite continuing UK consumer uncertainty, as reported at our Full Year Results on 15 January 2025, the Board continues to remain confident in delivering profit in line with full year market expectations. 

The Group will report its Interim Results for the six months ending 31 March 2025 on 14 May 2025.

Source : Victorian Plumbing plc

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