Online retailer achieves 28% turnover, against a sector growing by 3%
Online bathroom retailer Victorian Plumbing has increased turnover by 28% and projects sales of over £100million, in its recent annual report.
The company’s growth is in contrast to the overall bathroom sector which has been reported to have increased by 3%.
Victorian Plumbing is projecting a turnover of £106-107million, based on an audited turnover of £53.7million for a six month period, excluding January and Black Friday.
It has also reported an increase in net profits, and cited growth is through its continued investment in advertising across a range of platforms, such as its recent TV advertising and programme sponsorship.
Marketing director of Victorian Plumbing Mark Radcliffe commented on the results: “We’re very proud to have been able to continue to grow at an astonishing rate – currently putting us about double the size of our nearest competitor.
“Despite what I have read about other competitors who may feel the market is currently challenging – we feel very strongly that the opportunity is there. We continue to invest in software, in skills and in staff. In fact, I would say our biggest challenge is recruiting at the rate we need to with the level of growth we are enjoying.”
He continued: “The market is not as tough as some would have you believe in efforts to mask poor results. We feel, as ever, that there is opportunity in every challenge and some competitors have simply failed to meet those challenges in the way we have.”