Bathroom retailer sees profits soar by more than 200%

Bathroom retailer Victorian Plumbing saw profits rise by 200% over the last 12 months.

The firm, which is based in Formby, is now the largest online retailer of plumbing items in the UK.

The firm said it had enjoyed a good 12 months despite it being “a difficult year for the bathroom industry”.

The results come 12 months after the firm said it had enjoyed a record year.

A spokesman said the company had outperformed expectations calling it a “great year”.

Revenue increased by 28% from £118m to £151m, with profits rising to £10.1m – up from £3.5m.

Mark Radcliffe, managing director of Victorian Plumbing, said: “I’m really pleased to stop and assess what we have achieved, from humble beginnings in a garden shed to the largest UK bathroom retailer.

“It’s a real testament to the team’s efforts and relentless pursuit of perfection. It’s been a year when competitors have pointed the finger at a variety of factors such as the housing market, Brexit and consumer confidence, but the fact that we’ve succeeded where they haven’t shows that it’s our staff and people that make the difference.

“We constantly aim to be better than the competition in all areas with exciting targets set by the teams and so much care and pride throughout. I’m really excited about the future of Victorian Plumbing, with much more still to come.”

Expectations for 2020 remain high with forecasted sales of £200m and growth of 32.4%.