Housing market boosts Pimlico Plumbers’ sales

 
Kasmira Jefford
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PIMLICO Plumbers, one of the UK’s biggest independent plumbing companies, is on track to hit record sales of £20m this year after benefiting from a rebound in the housing market.

Charlie Mullins, the founder and chief executive of the London-based group, said homeowners in the capital were taking on bigger “pre-recession property projects” such as new bathrooms and extensions thanks to returning confidence in the market.

“Whereas in the past we’d be called in just to fit a boiler or a new shower, customers are increasingly using us for entire rooms and sometimes whole houses,” he said.

“Of course, after the financial disaster zone of the past few years, customers are still being careful with their money in this economy, but they will spend with confidence with companies they know and trust,” he added.

The group, which counts celebrities such as actress Dame Helen Mirren among its clients, said sales rose nine per cent to £5.25m in the three months to the end of March.

Total sales have rise to £16.5m so far this financial year, which ends on 31 May, putting it on course to achieve £20m of sales for the first time.

The company, which employs 200 tradespeople and 50 staff at its depot in Lambeth, has been expanding its footprint to greater London areas such as Dagenham and Watford as well as broadening its services to boost sales.

On top of its core plumbing, heating and drains divisions, Pimlico Plumbers also offers electrical services as well as roofing, building and renovations.

Profit before tax in the year to 31 May 2013 rose to £1.58m, up from £1.08m in 2012.