AGM Trading Update, Acquisition & Results Notice
Summary by AI BETAClose X
25 February 2026
Victorian Plumbing Group plc
("Victorian Plumbing" or the "Group")
AGM Trading Update, Acquisition and Notice of Results
Victorian Plumbing (AIM: VIC), the UK's leading bathroom retailer, today provides an update on trading for the first 21 weeks of its financial year ending 30 September 2026 ("FY26"), in advance of its Annual General Meeting which is being held today at 9:30am GMT.
The Group is also announcing the bolt on acquisition of a transportation services business and providing notice of its interim results.
AGM Trading Update
The Board is pleased to report that the positive momentum experienced in Q1, as highlighted in the announcement of the Group's FY25 Results on 3 December 2025, has continued into Q2. Revenue for the first 21 weeks of FY26 increased by 9%, driven by order volume growth across all categories with margins maintained at historic levels.
The Board is confident in delivering FY26 revenue and adjusted PBT in line with current market expectations1.
Acquisition, Listing Application and Total Voting Rights
On 31 January 2026, Victorian Plumbing acquired the entire issued share capital of Sovereign Transport Services Limited and Sovereign Commercials Limited (together "Sovereign"). Sovereign is a transportation services business based in Merseyside, providing haulage services to the Group and to a small number of other goods-based businesses in the North of England. The acquisition provides the Group with increased control over customer fulfilment and an opportunity to improve other areas of transportation over the medium term.
The purchase price (net of cash acquired) of £3.4m is subject to adjustments for normalised working capital and represents c.5x Sovereign's estimated annual adjusted EBITDA. The acquisition has been funded almost entirely from the Group's existing cash reserves, with 65,000 new ordinary shares of £0.001 each in the Company ("Consideration Shares") to be allotted and issued to the seller in part satisfaction of the purchase price payable. Acquisition related fees are expected to be c.£0.4m.
An application has been made to the London Stock Exchange for the Consideration Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective and trading is expected to commence in the Consideration Shares at 8.00am on 27 February 2026. When issued, the Consideration Shares will rank pari passu with the existing ordinary shares of £0.001 each in the Company ("Ordinary Shares").
Following Admission, the Company's issued share capital will comprise 328,769,068 Ordinary Shares, each carrying the right to one vote. This figure of 328,769,068 may therefore be used by shareholders as the denominator for calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Notice of Results
The Group will report its interim results for the six months ending 31 March 2026 on 19 May 2026.
1 Victorian Plumbing believes that current consensus market expectations for FY26 are for revenues of £329.5m and adjusted PBT of £21.9m.
-ENDS-
For further information, please contact:
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Victorian Plumbing Group plc Mark Radcliffe, Chief Executive Officer Daniel Barton, Chief Financial Officer
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via FTI Consulting +44 20 3727 1000 |
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FTI Consulting (Financial PR) Alex Beagley, Harriet Jackson, Amy Goldup, Harleena Chana
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+44 20 3727 1000 VictorianPlumbing@fticonsulting.com |
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Houlihan Lokey UK Ltd (Nominated Adviser) Sam Fuller, Tim Richardson |
+44 20 7839 3355 |
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Barclays Bank PLC (Joint Broker) Nicola Tennent, Stuart Muress |
+44 20 7623 2323 |
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Canaccord Genuity Limited (Joint Broker) Bobbie Hilliam, Elizabeth Halley Scott |
+44 20 7597 5970 |
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About Victorian Plumbing Group
Victorian Plumbing is the UK's leading bathroom retailer, offering an unrivalled high-quality product range and excellent stock availability to B2C and trade customers.
Victorian Plumbing offers its customers a one-stop shop solution for the entire bathroom with own and third party brands across a wide spectrum of price points. Victorian Plumbing product design and supply chain strengths are complemented by its creative and brand-focused marketing strategy to drive significant and growing traffic to its platforms.
Launched in 2025, the Group also includes MFI, an online-only UK retailer, offering a growing range of stylish homewares and furniture.
Headquartered in the North West, Victorian Plumbing and MFI employ staff across several locations in the UK.
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