Online bathroom retailer Victoria Plum has reported a 46% increase in sales to £103 million for the 2020 financial year.
The e-tailer also more than doubled its pre-tax profits (EBITDA), which were up by 115% to £4.5 million.
Website traffic saw a substantial increased during this period, up by 165%, while the number of sessions rose by 194% to more than 52 million.
In the year ending February 28, 2021 (FY 2020), the company has increased its team from 349 to 398 employees. Everyone in the team works remotely, apart from the staff in the 275,000sq ft distribution facility in Doncaster.
Chief executive Paul McClenaghan said: “We have an ambitious growth strategy, highly capable people throughout the company and a collective determination to further accelerate our rate of expansion. These latest record results validate our approach and provide us with the platform to progress our plans at pace.
“Elements of our results have benefited from the speeding up of the structural shift to online retail throughout 2020. However, we were constantly evolving Victoria Plum as a pure-play online retailer long before last year’s events happened and will continue to do so.”
The company celebrates 20 years in business in 2021. It was acquired a year-and-a-half ago by Leeds-based private equity fund Endless. The company is run by CEO Paul McClenaghan, who took on the role in August 2015.
During 2020, the company launched a bathroom and installation service, as it felt it needed a way to differentiate itself in the market, create a higher-value proposition and enhance customer relationships.
McClenaghan continued: “We are confident that we will continue to grow at speed. Our market fundamentals are strong, we have the necessary scalable infrastructure in place and a clearly differentiated design and installation service that is experiencing rapidly increasing demand.
“In addition, the constant stream of valuable data and consumer insights we access and interpret enables us to quickly adapt our product offer to meet customers’ needs, keeping us ahead of the game.
“All this means we are ideally positioned to make Victoria Plum the most differentiated, most trusted and most respected bathroom provider.”