Online bathroom retail giant Victorian Plumbing has reported record-breaking financial results for the first half of the year, with the retailer saying it is currently vastly outperforming the wider market.
In its half-year results released today, which covers up until the end of March, Victorian Plumbing says it generated revenue of £168.8m, which is an impressive 10.5% year-on-year increase over its previous figure of £152.7m.
Gross profits were also up by a similar margin, seeing 9.5% growth to £83.9m. This has resulted in an unprecedented operating profit increase of 44.1%, for a total of £9.8m – which Victorian Plumbing calls a company record.
According to the online retailer, order volumes also saw healthy growth across the six-month period, increasing 12% year-on-year to 609,000 orders. However, the retailer’s average order value actually decreased by 3% to £274, which the company said was a result of an increase in tiles and flooring only orders.
Victorian Plumbing also provided an update on the progress of its MFI brand, which it relaunched last year. From the initial launch of around 600 products, the retailer says it has expanded this significantly to now have over 5,500 SKUs across just the six-month period, with further expansion said to be “a key strategic priority” for the brand’s management.
Looking at the next six-month period, Victorian Plumbing says it has also seen mid-single digit growth for the first few weeks of H2 2026, despite subdued consumer sentiment which the company blamed on “the Middle East conflict and its impact on discretionary spending”.
“In delivering my first set of interim results as CEO, I am pleased to report a strong first half performance, with the Group achieving double digit revenue growth and continuing to deliver on its strategic growth ambitions,” reflected Stephnie Judge, Victorian Plumbing’s chief executive officer.
She continued: “We have further strengthened our market share, reinforced our position as the UK’s number one bathroom retailer, improved our marketing efficiency and grown brand awareness. Our state of the art distribution centre is enabling more efficient fulfilment and supports our growth ambitions across expansion categories, including trade, tiles and flooring. The progress made in MFI is also very encouraging.
“As a highly cash generative business with a strong balance sheet, we remain focused on investing for long-term profitable growth and on increasing returns to shareholders. Despite the persistent macroeconomic uncertainty, we remain on track to deliver record full year revenue and profit expectations, and we are confident that our strategy will continue to deliver long-term value for all stakeholders. Finally, on behalf of the Board, I would like to thank every one of our team members, recognising that this strong first half performance is testament to their continued hard work and dedication.”
In related news, Judge officially became the company’s CEO at the start of last month, following the news that Victorian Plumbing founder Mark Radcliffe – who established the company back in 2000 – was planning on stepping down.