Online plumbing business Victorian Plumbing said it was on the cusp of becoming a “household name” as it reported “strong profit growth” and increased sales in its 12 month-financial period to end of September 2018.
The Liverpool-based online bathroom firm owned by brothers Mark, who is the managing director, and Neil Radcliffe said sales were £118 million for the year.
There were no numbers for the previous year to compare with, but for its previous six month financial period to end of September 2017, sales were £52.78m.
Pre-tax profit for the year was £3.55m. For the six months to end of September 2017, pre-tax profit was £2.55m.
Profit after tax amounted to almost £3m, about £1m more than the year before.
The company said it appointed a chief technology officer in the year who will assist in taking the internet business “to the next stage of growth”.
Mark’s mother Carole resigned as a director in October 2017.
He said that in the last financial year the firm had invested heavily in marketing activity and it had introduced a warehouse management application, which has “helped achieve efficiencies in a number of areas”, reducing stock holdings and increasing capacity.
It also said it had “invested significantly” in its purchasing team, which has helped to grow supplier partnerships. It said it expects the investment to reap further rewards this year.