Victorian Plumbing Group PLC (AIM:VIC) said underlying profits for the year to end-September would be in line with market expectations and that the lease of a new distribution centre in Leyland, Lancashire was legally completed this week.
The bathroom e-retailer reported a 6% rise in revenue for its just completed financial year with profitability also improving as it sells more own-brand products.
The Leyland warehouse development is “on time and within budget”, it said, and expected to be operational on schedule in 2024.
Chief executive Mark Radcliffe boasted that the company’s “clearly defined strategy and unique business model have resulted in increased order volumes and resilient average order values, with customers continuing to appreciate the choice of great value products that we offer across our ranges”.
Shares in the company climbed 2% in early trades before levelling out at 89.9p.