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Victorian Plumbing Sales Jump 10.5%; Tiles Flooring Surges
H1 revenue hit £168.8m with strong order volumes from tiles and flooring. Absence of profit figures leaves profitability unknown. Full-year results will be the key checkpoint.
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H1 Revenue Hits £168.8M on Tiles and Flooring Growth
Victorian Plumbing posted a 10.5% revenue increase to £168.8 million for the six months to March 2026. The growth came from strong order volumes and rapid expansion in the tiles and flooring category. Retail revenue, excluding the MFI brand, also contributed to the double-digit top-line rise.
The headline figure looks straightforward. The composition of that growth carries more weight for the investment case.
Tiles and Flooring: The Growth Engine Without Margin Data
The company described the expansion in tiles and flooring as "rapid," suggesting the category is moving from a sideline to a material revenue driver. For a retailer historically dependent on bathroom suites and fittings, this adjacent category broadens the addressable market. Tiles and flooring are higher-frequency purchases than full bathroom replacements. A homeowner may retile a shower wall without replacing a toilet or vanity. That repeat-purchase dynamic could lift customer lifetime value and smooth seasonal revenue swings.
Victorian Plumbing did not disclose gross margin or operating profit in this interim statement. Without that data, investors cannot assess whether the new segment is diluting or enhancing overall profitability. Tiles and flooring often carry lower gross margins than branded bathroom fixtures. Higher volumes can offset that. The unit economics remain unconfirmed.