Victorian Plumbing boosted by growth initiatives
Victorian Plumbing has said its rate of revenue growth improved in January as it benefited from new initiatives and the transition to a semi-automated distribution centre.
In statement ahead of its AGM this morning, the bathroom retailer said growth is expected to improve further in February and that revenue is likely to be up 5% year-on-year in the first 21 weeks of FY25.
Meanwhile, its tile and décor category is expected to grow by 30% in the period as a result of continued expansion.
Despite the impact of continuing UK consumer uncertainty, the retailer said it is confident it will deliver profit in line with full year market expectations.
Never Miss a Retail Update!Victorian Plumbing said the new distribution centre enabled it to make further progress in strategic growth areas. These included moving next day delivery cut-off timing from midday to 3pm, and the launch of a free tile sample offering where customers can select up to three sample tiles via express checkout to be delivered free of charge.
The retailer has also introduced a third party digital trade credit offering for qualifying trade customers.
Victorian Plumbing said gross profit margin improvement is continuing to be in line with the previous financial year as sales of its own-brand range continue to grow.
