By Najat Kantouar
Victorian Plumbing Group said it expects to report revenue growth on increased order volumes, driven by a shift in product mix toward Victorian Plumbing own-brand ranges.
The U.K. online retailer of bathroom products said on Thursday that revenue for the year ended September 30 rose by 6%, driven by increased order volumes while average order value remained in line with the prior year. This implies revenue of around 285.5 million pounds ($346.5 million), given it reported GBP269.4 million a year prior.
The company expects that adjusted earnings before interest, taxes, depreciation and amortization for the full-year to be in line with market expectations.
“As a highly cash generative business with a strong balance sheet, we continue to invest in the business – across people, infrastructure, technology, and our new UK distribution centre, the successful delivery of which will enable further growth. We are confident that Victorian Plumbing’s profitable growth strategy will continue to deliver long-term value to all stakeholders,” Chief Executive Officer Mark Radcliffe said.
Shares at 0758 GMT were down 0.2 pence, or 0.2% at 90.1 pence.
Write to Najat Kantouar at najat.kantouar@wsj.com
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https://www.marketwatch.com/story/victorian-plumbing-group-sees-full-year-revenue-boost-on-higher-sales-b9d9e290
