Online bathroom retailer Victorian Plumbing says it has seen its revenue growth improve over the month of January, and expects this trend to have continued throughout February as well.
The retailer said revenue for the current trading period is anticipated to be up by roughly 5% year-on-year, which Victorian Plumbing says demonstrates the early success of its latest strategic growth initiatives.
Victorian Plumbing transitioned to a new semi-automated distribution centre, which was completed in December 2024. Last month, the retailer also launched a new free tile sample offering, allowing customers to receive up to three sample tiles free of charge. Additionally, Victorian Plumbing also moved its next day delivery service cut-off timing from midday to 3pm, which it believes will help its trade customers in particular.
In addition to the anticipated revenue increase, gross profit margin improvement is continuing in line with the previous financial year. Specifically, Victorian Plumbing believes that its Tiles & Décor product category is expected to grow by 30% during the current trading period.
After the company confirmed last month that it planned to close its recently acquired Victoria Plum business, Victorian Plumbing has also confirmed that the closure is now officially complete.
All of its previous rival’s remaining stock has now been transferred, and the company exited its lease over the company’s premises at the end of last month.
Looking to the future, the company says it continues to remain confident in delivering profit in line with full year market expectations, despite what it describes as “continuing UK consumer uncertainty”.
In Victorian Plumbing’s latest full-year results, covering up to September 2024, it revealed that despite boosting revenue, the online retailer saw its profits take a considerable hit in 2024, which it mostly blamed on the “exceptional costs” associated with buying rival Victoria Plum.
