Victorian Plumbing Group has posted an 8% increase in gross profit to £72.3m in its H1 results.

The bathroom retailer said the figures represented the highest gross margin since listing in 2021, underpinned by own brand sales.

In the six months to 31 March, Victorian Plumbing also reported a “resilient” H1 revenue of £144.6m, although was a figure down by 1% compared to last year.

The group also stated that a gross profit margin improvement drove a 33% increase in adjusted EBITDA to £13.2m, up from £9.9m in H1 2023.

Founder and CEO of Victorian Plumbing, Mark Radcliffe, said he was “pleased” with the group's performance in the first half, having increased profitability and consolidated its position as the “UK’s number one bathroom retailer”.

“At the same time, we have embarked upon a year of transformational change with significant investment in our people, technology and operations,” Radcliffe commented.

“Continued investment in our brand, epitomised by our three-year partnership with Bolton Wanderers Football Club, alongside our unrelenting approach to online marketing and an ever-improving customer experience, provides strong foundations for the future.

“This robust first half performance, our unchanged momentum into the rest of the year and the exciting developments scheduled for H2 2024, gives the Board confidence in our profitable growth strategy as we continue to deliver long-term value for all stakeholders.”

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