Victorian Plumbing 'outperforms wider market' with double-digit growth

Bathroom retailer Victorian Plumbing Group has provided an update on trading for the financial year ended 30th September 2026. The company said that strong momentum has continued throughout the second half of FY26 with the group delivering record revenue, further market share gains and adjusted PBT ahead of market expectations.

Group revenue increased by around 11% (compared to a 5% increase in 2025) to around £344m in FY26 (compared to £310m in 2025), outperforming the wider repair, maintenance & improvement market, which it says declined by 1.7%2. This growth was primarily driven by a 13% increase in total orders, offset by a 5% reduction in average order value.

The group says it also benefitted from £7m of revenue generated by its recently acquired haulage business, Sovereign Transport Services, and around £3million of revenue from its furniture and homeware brand, MFI. Tiles and flooring revenue grew by 76%, to £31m. Trade revenue grew by 6%, to around £78m (compared to £73.8m the previous year).

Group adjusted profit before tax is expected to be around £22m (FY25: £21.8m), which is ahead of market expectations. This comprised £26m profit at Victorian Plumbing (FY25: £24.3m profit) and a £4m loss at MFI (FY25: £2.5m loss), as the company continued to invest in establishing MFI in the UK homewares market. Group year end cash remained strong at £25m (FY25: £17.7m) with continued healthy operating cash conversion.

CEO Stephnie Judge said: "The strong momentum we delivered in the first half continued throughout the rest of the year, with the Group achieving record revenue, maintaining double digit growth and further strengthening our position as the UK's leading bathroom retailer. During the year we gained further market share, improved marketing efficiency and increased our brand awareness. We continue to outperform the wider market despite a challenging consumer backdrop, driven by the strength of our customer proposition, own brand offering and broad product range across both consumer and trade.

We were particularly pleased by strong growth in tiles and flooring, demonstrating the strength of our category expansion strategy. As we diversify into new revenue streams, MFI has delivered a successful first full year of trading, giving us growing confidence in the scale of the opportunity ahead. An expanding product range and strong customer engagement continue to support momentum in the proposition.

Our investment in infrastructure continues to deliver tangible benefits, with our distribution centre driving operational efficiencies and providing a platform for future growth across the Group. With continued momentum in the business, a market-leading position, strong balance sheet and highly cash generative business model, we remain confident in our ability to deliver sustainable long-term growth and create further value for shareholders."