Bathroom retailer Victorian Plumbing Group is set to enter the UK homewares market through a ‘reinvented’ MFI brand. The business posted interim results covering a period of “strategic progress”.
The listed business acquired the MFI brand and three letter domain name as part of its recent Victoria Plum acquisition.
The brand will now underpin Victorian Plumbing’s entry into homewares, which the business said was adjacent to its core bathroom offering.
Victoria Plum ceased trading in November 2024, with the expensive Doncaster lease and other operating costs exited in January 2025.
In accounts for the six months to 31 March 2025, revenue at Victorian Plumbing grew by 6 per cent to £152.7m, boosted by a strong second quarter following completion of a warehouse transformation in December 2024.
Adjusted EBITDA increased by 15 per cent to £15.2m, while adjusted pre-tax profit increased by 3 per cent to £11.8m.
Total orders increased 10 per cent to 542,000 reflecting continued market share gains in a subdued trading environment.
Mark Radcliffe, founder and chief executive of Victorian Plumbing, said: “Having invested significantly in preparing the business for future growth last year, I am pleased with the group’s strategic progress in the first half.
“We are fully operational in our new purpose built warehouse and have continued to improve our customer proposition, while expanding product range into other rooms within the home and taking significant market share gains in a subdued trading backdrop.
“I am very excited about the upcoming re-invention of MFI, allowing us to tap in to more of the £20bn UK homewares market. Our dedicated and ambitious team, decades of ecommerce knowledge and best-in-class proprietary software, together with the recognisable MFI brand, will help to deliver our strategic ambition over the medium-term.
“Victorian Plumbing has always taken an opportunistic and entrepreneurial approach; alongside this we have built a business that invests in the future, has solid financial foundations and is committed to delivering long-term value to all shareholders, as epitomised by our enhanced capital allocation policy and increased interim dividend.”
Read more here: Click Here
