Sales flushed away at Pimlico Plumbers
Sales declined at Pimlico Plumbers
Pimlico Plumbers saw its turnover plummet last year as rival companies ramped up operations following the pandemic.
Turnover fell 11 per cent to £45 million – on a pro-rata basis as the accounting period was changed – according to documents filed with Companies House for Pimlico Plumbers Limited.
In trouble: Pimlico Plumbers saw its turnover plummet last year as rival companies ramped up operations in the wake of the pandemic
It said the decline came as “competition returned to the market.”
Pimlico Plumbers was founded in 1979 by the flamboyant Charlie Mullins, who left school without a qualification at the age of 15 and started working as a plumber.
The London-based company has around 200 employees and a star-studded roster of celebrity clients, including James Bond actor Daniel Craig, Dame Helen Mirren and guitarist Eric Clapton.
In 2022, profits rose to £73.5m, but this was almost entirely down to the almost £74m sale of intellectual property to another Pimlico Plumbers company.