- The online bathroom specialist is set to start trading on Aim on 22 June under the ticker ‘VIC’
- Victorian Plumbing has a track record of profitability, with operating profit jumping by 90 per cent year-on-year in the six months to 31 March
Adding to the flurry of IPOs we have already seen this year, online bathroom products retailer Victorian Plumbing is set to make its market debut on Aim on Tuesday. The company and its existing shareholders are selling 113m shares at 262p each, giving it a valuation of around £850m – that equates to the largest ever float on London’s junior market.
Founded by chief executive Mark Radcliffe in his garden shed back in 2000, Victorian Plumbing is a one-stop shop for bathroom equipment for both the public and trade customers, supplying everything from tiles to taps. It sells more than 24,000 products from 125 brands and three-quarters of its revenue comes from its own of range products. The own brand portfolio generated a gross margin of 49 per cent in the year to 30 September 2020, versus just 30 per cent for third-party products.