22nd Jan 2026 11:00
(Alliance News) - Wickes Group PLC on Thursday said it remains on track to meet market expectations after sales growth accelerated in the second half of the financial year.
The Watford, England-based home improvement retailer said sales rose 6.3% on-year to GBP788 million in the six months to December 27, picking up speed from 5.6% growth in the financial first half.
On a like-for-like basis sales growth also ticked higher to 5.3% in the second half on-year from 4.5% in the first half.
For the financial year as whole, revenue rose 5.9% to GBP1.64 billion from the year prior, or by 4.9% LFL.
As a result, Wickes expects adjusted pretax profit for the financial year to December 27 to be within the consensus forecast range of GBP46.8 million to GBP50.7 million.
This would be as much as 16% higher than GBP43.6 million adjusted pretax profit that Wickes reported in the 52 weeks to December 28, 2024.
Shares in Wickes rose 3.8% to 233.50 pence each in London on Thursday.
By division, Retail sales rose 6.2% in the second half to GBP574 million from the year prior, or by 5.1% LFL, taking full-year revenue to GBP1.21 billion, up 6.5%.
This was driven by a "continued increase in volumes, in a mildly deflationary pricing environment".
TradePro "continued to outperform", with second half sales up 8% year-on-year, Wickes noted.
Design & Installation revenue grew 6.9% in the second half to GBP214 million, compared to the prior year, taking full-year sales to GBP427 million, up 4.4%.
Wickes said its balance sheet remains strong, with net cash at the year end of GBP92 million, supported by a healthy order book in Design & Installation, as well as the phasing of some capital investment projects.
By Jeremy Cutler, Alliance News reporter
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