Victorian Plumbing has dispatched more than 750,000 bathroom orders in the past 12 months and is set to post results that show a revenue growth of 37% to £207 million in the year to September.
As a result of that growth, the Merseyside-based business is expanding its operations with a recruitment drive to increase employee headcount by 20% over the next three months – around 80 new jobs within the region – and invest in an additional 50,000sq ft of warehouse space.
The company needs the extra warehouse space and staff because of the significant increase in business over the lockdown period as homeowners started renovation projects. The new staff will be across all areas of the business, with a focus on logistics and customer service roles.
The revenue growth was £207m in 2020 compared with £151m in 2019, which was also cited as being a record-breaking year. There was also an increase in profits (EBITDA) of 152% to £29m in 2020, up from £11.49m in 2019.
Mark Radcliffe, chairman of Victorian Plumbing, said: “The fact that we are able to make these positive announcements is testament to the whole company pulling together to drive growth and profit across all areas of the business.
“We already know we are the biggest online bathroom retailer in the UK and now we believe that these figures give us the largest market share and cement our standing within the vertical.
“We’re huge believers in investing in people and technology and that allows us to be better than the competition in all areas. I’m really excited about the future of Victorian Plumbing, with much more still to come.”
Stephnie Judge, managing director of Victorian Plumbing, said: “There has been an increased appetite for home renovations during lockdown and investing in a bathroom revamp has been a key project for many.”
Victorian Plumbing said research has suggested that almost one-in-five people are planning to do some form of DIY soon and the same number are looking to renovate a room or bathroom.
Judge said: “Consumers are revamping their homes for a number of reasons. For some, savings achieved during lockdown have meant they have the cash to invest in their homes. For others, lockdown gave them the additional time to work on such projects and reminded them of the benefits of DIY.
“We are seeing consumers realise the benefits of renovations, such as a new bathroom, or simply adding a downstairs toilet or separate shower to increase the appeal of their homes to potential buyers.”
UK consumers have spent £55 billion on home improvements since March, with the average homeowner spending around £4,035 on renovations. This has mainly been attributed to consumers spending money on home improvements instead of going on holiday.
Victorian Plumbing has been named one of the UK’s most productive employers in the UK by Retail Week and in the 16th annual Sunday Times PwC Top Track 250 it has risen from position 246 to 162.