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Victoria Plum posts record 46% surge in full year sales

// Victoria Plum full year sales up by a record 46% to £103m
// EBITDA skyrockets 115% to £4.3m
// Victoria Plum’s website users also increases by 165% to 23.2 million

Online bathroom retailer Victoria Plum has booked a record sales increase of 46 per cent to £103 million for its full year period ending February 28.

Meanwhile its full year EBITDA skyrocketed by 115 per cent to £4.5 million.

Over the same period, the retailer also grew its workforce, with staff headcount going from 349 to 398.

READ MORE: Victoria Plum bought out by Endless

This year marks Victoria Plum’s 20th year in business and one-and-a-half years since it was acquired by Leeds-based private equity fund Endless.

During that time, Victoria Plum has continued its management-led turnaround and transformation strategy under chief executive Paul McClenaghan.

This included launching a bathroom design and installation service in 2020,

Victoria Plum also took the decision last year for all its staff to permanently work remotely.

The only exceptions are the teams working in the online retailer’s 275,000sq ft distribution facility in Doncaster and across its nationwide delivery network.

Victoria Plum’s Doncaster facility and one of its offices in Hessle, East Yorkshire, have now become hubs where staff can work and meet according to their requirements.

“We have an ambitious growth strategy, highly capable people throughout the company and a collective determination to further accelerate our rate of expansion,” McClenaghan said.

“These latest record results validate our approach and provide us with the platform to progress our plans at pace.

“Elements of our results have benefitted from the speeding up of the structural shift to online retail throughout 2020.

“However, we were constantly evolving Victoria Plum as a pure play online retailer long before last year’s events happened and will continue to do so.”

Compared to the previous financial year, Victoria Plum’s website users increased by 165 per cent to 23.2 million while its sessions rose 194 per cent to more than 51 million.

McClenaghan said: “We are confident that we will continue to grow at speed.

“Our market fundamentals are strong, we have the necessary scalable infrastructure in place and a clearly differentiated design and installation service that is experiencing rapidly increasing demand.

“In addition, the constant stream of valuable data and consumer insights we access and interpret enables us to quickly adapt our product offer to meet customers’ needs, keeping us ahead of the game.

“All this means we are ideally positioned to make Victoria Plum the most differentiated, most trusted and most respected bathroom provider.”

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The post Victoria Plum posts record 46% surge in full year sales appeared first on Retail Gazette.



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