Victorian Plumbing Expects to Beat FY 2021 Adj Ebitda Forecasts

By Ian Walker

Victorian Plumbing Group PLC said Thursday it expects to report a market-based adjusted EBITDA for fiscal 2021 after a strong performance in the first three quarters of the year.

The recently launched UK online retailer of bathroom products said sales grew 29% for the year ended September 30, after moderating over the summer. However, gross margins have remained strong, it added.

“Given the highly publicized global supply chain issues that have affected many companies, the group has been proactive in optimizing its shareholding in the new fiscal year,” said Victorian Plumbing.

The company did not provide figures on adjusted earnings before interest, taxes, depreciation and amortization for the year. However, according to FactSet and based on estimates from two analysts, this is estimated at £39 million ($53 million).

Shares fell 14.50 pence, or 6%, to 225.50 pence at 0710 GMT.

The company began trading on London’s junior AIM on June 22 at 262.0 pence.

Write to Ian Walker at [email protected]

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