6th Oct 2022 14:42
Victorian Plumbing Group PLC - Lancashire-based bathroom retailer - Says its revenue, earnings and cash flow topped market expectations in the year ended September 30. Revenue in the second half alone rises 5% annually. For the full year, revenue is expected to be broadly unchanged from a year ago. Last financial year it recorded revenue of GBP268.8 million.
"Through a combination of carefully controlling prices and ongoing proactive management of the supply chain, gross margins have improved in the second half versus the first half of financial year 2022," Victorian explains.
Looking ahead, firm states it will start the new financial year with over GBP43 million of net cash. "We have maintained a strong inventory position in order to maximise availability and minimise the risks from supply chain disruption," it says.
Further, Victorian says "whilst the operating and economic environment is challenging, as a highly cash generative business with a strong balance sheet and growing momentum through 2022 we enter the new financial year with confidence in our plans for further progress".
Current stock price: 41.30 pence, up 16% on Thursday
12-month change: down 83%
By Tom Budszus; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.