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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Victorian Plumbing

March 2025

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • VIC
  • Price:
  • 105p
Having hit a high of 122p, shares in Victorian Plumbing have been nothing if not volatile but responded well to finals on 15 January, which beat expectations. On revenues 4% higher at £296m, adjusted EBITDA rose 14% to £27.2m while eps increased 13% to 5.3p, a 4% beat. The performance was strong in light of the £2.2m EBITDA loss from Victoria Plum in its first 4.5 months post acquisition. Net cash was £11.2m vs consensus of £3.4m. Although down from £46.4m in FY23, this reflected Victoria Plum (£22.2m) and investment in the new warehouse (£26.4m). Order volumes rose 10% while customers traded down to cheaper own branded sales (+1% to 79% sales), which are more profitable. That, alongside lower shipping costs and favourable FX, boo ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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