Victorian Plumbing FY revenues up more than a quarter

Victoria Plumbing stated revenues had grown roughly 29% year-on-year, reflecting strong trading in the first three quarters of the year, more subdued market conditions as lockdown restrictions were eased, and improving customer demand in September.

Whilst the AIM-listed firm acknowledged that revenue growth moderated over the summer, gross margins remained strong throughout the season and full-year adjusted underlying earnings were now anticipated to be ahead of market expectations.

"Given the widely publicised global supply chain issues that have been affecting many companies, the Group has been proactive in optimising its stock holding going into the new financial year," said Victorian.

"The group continues to progress all of the operational and strategic opportunities outlined at the time of the IPO. Management will provide a further update in the group's maiden preliminary results, which will be announced on 9 December 2021."

As of 1040 BST, Victorian Plumbing shares had sunk 7.40% to 222.25p.