Wickes posts sales and profit uplifts
Wickes has posted an increase in both sales and profit in the first half of the year as it benefited from strong volume growth.
In the 26 weeks to 28 June, total revenue rose by 5.6% to £847.9 million as retail revenue increased by 6.8%.
The home improvement retailer said self-help actions to enhance customer experience drove a return to like-for like growth in its design & installation division in the second quarter.
Meanwhile, first half adjusted pre-tax profit climbed by 16.7% to £27.3 million as statutory pre-tax rose to £24.2 million from £22.9 million a year earlier.
Subscribe to TRBDavid Wood, chief executive of Wickes, said: “Wickes has delivered a strong first half, with volume growth across the group.
“I would like to thank all of my colleagues for their continued hard work and dedication, providing outstanding customer service and helping the nation feel house proud.”
Giving an update on current trading, Wickes said this has been in line with expectations in its third quarter to date, although the phasing of increased people costs and new stores will impact more fully in the second half.
The retailer said it remains comfortable with current consensus expectations for adjusted pre-tax profit for 2025.
Wood added: “Our proven strategy is working. Whilst we remain mindful of the cost headwinds facing the sector as a whole, continued investment in our growth levers and digital initiatives means we are well positioned for the future and remain comfortable with market expectations for the full year”.
