Online bathroom retailer Victoria Plum has announced its sales grew by “a record” 46% to £103million for the year ended February 28, 2021.
In addition, the South Yorkshire-headquartered business saw its EBITDA increase by 115% to £4.5million and, over the same period, the company grew its headcount from 349 to 398.
Marking its 20th year in business, it is also 18 months since the company was acquired by Leeds-based, private equity firm Endless.
During that time, Victoria Plum has continued a management-led turnaround and transformation strategy under the leadership of chief executive Paul McClenaghan.
This has included launching a bathroom design and installation service in 2020, which the company reports has created higher value transactions.
Victoria Plum also took decision, last year, for all its people to permanently work remotely, except the teams working in the company’s 275,000sq ft distribution facility in Doncaster and across its delivery network.
Commenting on the businesses’s performance, chief executive Paul McClenaghan said: “We have an ambitious growth strategy, highly capable people throughout the company and a collective determination to further accelerate our rate of expansion.
“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% to 23.2million and its sessions rose 194% to more than 51million.
Paul McClenaghan continued: “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.”