Latest update from Victorian Plumbing reports 'solid' performance in 2025

Bathroom retailer Victorian Plumbing has provided an update on trading for the financial year ended 30th September. Group revenue for FY25 is in line with market expectations, increasing by around 5% to £310m (up from £295.7m in 2024), despite a challenging macroeconomic environment, with the UK Home Improvements & DIY market declining by an estimated 3%1 over the same period.

The company says its performance reflects continued market share gains, underpinned by the strength of its product range and availability. Customer demand for Victorian Plumbing (excluding MFI) remained robust, with FY25 order volumes growing by 6% and a record 1,080,000 orders delivered in the year (FY24: 1,022,000). There was little variation in average order value, which stood at £287 (FY24: £289).

Strategic initiatives continued to deliver strong results, driven by its warehouse transformation, improved delivery speeds, and the introduction of free tile samples, with notable contributions from:

• Trade revenue, which grew c.10% to £74m (FY24: £67m), now contributing c.24% of Group revenue (FY24: 23%)

• Tiles & décor revenue, which surged 40% to c.£17m (FY24: £12m), increasing to c.5% of Group revenue (FY24: 4%)

Adjusted pre-tax profits increased by around 17% to c.£31.8m (FY24: £27.2m), in line with the top end of market expectations, driven by revenue growth and improved marketing efficiency. 

The company says it began taking orders via mfi.co.uk during the summer, following a soft launch of the reimagined brand in July. The response from customers is said to have been encouraging to date and so the stategy will be to continue to build the product range ahead of its full launch in H1 2026. 

Mark Radcliffe, CEO of Victorian Plumbing, said: "I am pleased to report another solid financial and operational performance following an exciting 12 months for the Group. Our own brand proposition and availability of a wide range of high-quality bathroom products and accessories continue to resonate with our customers. Our new state-of-the-art distribution centre continues to enable us to fulfil orders more efficiently and support our ambition to grow both our trade and expansion categories. We have also continued our strategic investment in the Victorian Plumbing brand and were pleased to soft launch the MFI brand in July. The feedback from customers has been positive and we look forward to growing the proposition and launching a broader range of products in H1 2026.”

Preliminary results for FY25 will be published on 3rd December 2025.