Full-Year Revenue Growth Boosts Victorian Plumbing

Full-Year Revenue Growth Boosts Victorian Plumbing

United Kingdom: Victorian Plumbing reported a solid performance, with revenue rising 5% to £310m and adjusted EBITDA up 17% to £31.8m, supported by record order volumes of 1.1m. However, adjusted pre-tax profit fell 6% to £21.8m due to higher interest costs linked to a new distribution centre. The group said trading has started positively in the new year. Shares rose 4%, while Shore Capital reiterated its ‘buy’ recommendation despite ongoing losses expected at revived MFI.

Source: Sharecast