In its results for the six months ended 31st March 2025, bathroom retailer Victorian Plumbing Group reported the imminent relaunch of MFI to the UK homewares market, having obtained the brand and domain name as part of its recent Victoria Plum acquisition.
According to the group, the MFI brand fits with Victorian Plumbing’s existing customer base, and will utilise the platform provided by the proprietary software, ecommerce knowledge and supply chain logistics which enabled the growth of the bathroom business.
The relaunch sees some £3m investment in people and property costs in FY25, with no corresponding FY25 revenue.
Victoria Plum ceased trading in November, with the Doncaster lease and other operating costs exited in January 2025. The group says the-invented MFI brand will facilitate its launch into the UK homewares market in H1 FY26.
The group saw revenue growth of +6% to £152.7m in H1, boosted by revenue growth of +9% (£6.5m) in Q2. Taking into account the MFI set-up and launch costs, full-year adjusted PBT is expected to be between £21m and £22m.
Mark Radcliffe, founder and CEO of Victorian Plumbing, says: “Having invested significantly in preparing the business for future growth last year, I am pleased with the group’s strategic progress in the first half. We are fully operational in our new purpose built warehouse and have continued to improve our customer proposition, while expanding product range into other rooms within the home and taking significant market share gains in a subdued trading backdrop.
“I am very excited about the upcoming re-invention of MFI, allowing us to tap in to more of the £20b UK homewares market. Our dedicated and ambitious team, decades of ecommerce knowledge and best-in-class proprietary software, together with the recognisable MFI brand, will help to deliver our strategic ambition over the medium-term.
“Victorian Plumbing has always taken an opportunistic and entrepreneurial approach; alongside this we have built a business that invests in the future, has solid financial foundations and is committed to delivering long-term value to all shareholders, as epitomised by our enhanced capital allocation policy and increased interim dividend.”
