Victorian Plumbing Group PLC - Lancashire, England-based bathroom retailer - Says adjusted earnings before interest, tax, depreciation and amortisation for the financial year that ended on September 30 is expected to be in line with market expectations. Profitability improves from financial 2022, Victorian Plumbing says, helped by a shift in product mix toward own-brand ranges, together with lower shipping costs and favourable currency movements. Adjusted Ebita was £19.5 million in financial 2022, down from £40.1 million in financial 2021. At the halfway stage of financial 2023, adjusted Ebitda was £9.9 million, up from £6.7 million a year before.

Victorian Plumbing says revenue for all of financial 2023 is up 6% on financial 2022, when it was £269.4 million. This is driven by a 6% increase in order volume, the company says, while average order value remains steady on the year before. The lease on the company’s new distribution centre in Leyland, Lancashire is legally completed on Wednesday. The warehouse is on budget and will open on schedule in 2023, Victorian Plumbing says.

Current stock price: 89.50 pence

12-month change: up from 35.60p

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