Victorian Plumbing AIM:VIC
- Founded
- 2000 · Skelmersdale, England
- Incorporated
- United Kingdom
- Chief executive
- Mark Radcliffe
- Employees
- 712
- Reports in
- GBP
- Companies House
- 13379554
The UK's largest online specialist bathroom retailer, selling own-brand and third-party bathroom products, taps, showers and furniture through a marketing-driven direct model from a large Skelmersdale distribution centre. Founder-led with high brand awareness in its category.
Read straight from the annual reports
77.2p at close on 2 Oct 2026 · 7 reported years, 2019–2025
| Line | FY201910/19 | FY202009/20 | FY202109/21 | FY202209/22 | FY202309/23 | FY202409/24 | FY202509/25 | FY2026unreported |
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GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
6 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Record order volumes (1,080,000 orders, +6%) from continued market share gains against bricks-and-mortar and other online competitors
"Revenue for the year grew by 5% to £310.0m... Order volume grew by 6% to a record 1,080,000"
page 54Trade channel growth
Trade revenue grew 10% to £73.8m, now 24% of total revenue (2024: 23%)
page 14Extended Producer Responsibility (EPR) packaging tax from April 2025
Contributed to gross margin reduction of 0.6ppt to 49.4%
page 55Product/channel mix shift towards trade and tiles (lower gross margin than core bathroom)
Trade and tiles/flooring revenue growth diluted blended gross margin
page 55£2 charge: Warehouse transformation - double running and non-recurring administrative expenses
page 121"I am proud of the Group's strong performance in 2025, in which we achieved record revenues and continued to deliver on our strategic growth ambitions" - Mark Radcliffe, CEO
page 12Revised capital allocation policy (H1 2025) targets dividend cover of 2.25x-3.00x (previously 3.00x-3.50x). Total ordinary dividend for FY2025 of 2.15p (+34%), comprising 0.70p interim and 1.45p proposed final (dividend cover 2.5x, 2024: 3.3x). Total cash distribution £7.2m, final dividend subject to AGM approval on 25 February 2026, payable 4 March 2026.
page 59Directors adopted the going concern basis for the period to 31 January 2027, based on a stress-tested base case with a £30.0m HSBC revolving credit facility (undrawn) providing headroom; a severe-but-plausible downside scenario (lower order growth, lower AOV, lower gross margin) still showed sufficient liquidity without recourse to the RCF. Ernst & Young LLP issued an unqualified (unmodified) audit opinion; the sole key audit matter was revenue recognition (cut-off/refund liability judgement); group materiality was £1.1m (5% of Adjusted Profit Before Tax).
page 108- Macroeconomic trends - failure to adapt to changing macroeconomic conditions (interest rates, consumer disposable income)p.62
- Innovation and changes in consumer buying - failure to remain relevant/attractive to customersp.63
- Business interruption - a significant event restricts ability to operate effectivelyp.64
- Brand and reputation - consumers lose faith in product/service qualityp.64
Read from C001383-AR-2025-ch.
5 annual reports read, FY2021 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (5)
FY2026Next report expected 12 Dec 2026