21st Jul 2021 10:59
(Alliance News) - Wickes Group PLC on Wednesday maintained its profit guidance after a jump in first-half revenue, helped by the reopening of showrooms as pandemic restrictions were lifted.
Like-for-like sales were up 33% year-on-year in the first half, and up 22% from the same period two years ago, the home improvement retailer said. Guidance for first-half adjusted pretax profit remains unchanged at around GBP45 million, while the full-year outlook "remains in line with our expectations."
Year-on-year sales growth accelerated from 20% in the first quarter to 48% in the second quarter - when the comparative was weaker as stores shut on the outbreak of the pandemic.
Wickes, which demerged from Travis Perkins PLC earlier this year, did not provide financial figures.
Sales in the "Do-it-for-me" home installation service business nearly tripled year-on-year, after kitchen and bathroom showrooms were allowed to reopen when Covid restrictions were eased on April 12.
Shares in Wickes were up 1.3% to 250.24 pence in London on Wednesday morning.
By Ivan Edwards; [email protected]
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