Wickes has reported a 2.1 per cent rise in first-half revenue to £865.3m, with growing volumes in retail and a strong design & installation order book, helping offset deflation.
The British home improvement retailer reported that for the 26 weeks ending 27 June, adjusted profit before tax increased 1.1 per cent to £27.6m, bolstered by retail revenue increasing 0.8 per cent despite 2.4 per cent deflation, while Design & Installation revenue rose 5.7 per cent.
TradePro sales rose 5 per cent, with active members reaching a record 671,000, up from 615,000 a year earlier.
Wickes also reported continued market share gains in retail, particularly across decorative, gardening and timber, while design & installation recorded its fifth consecutive quarter of sales growth.
During the trading period, the group continued investing in its store estate, completing eight refits and refreshes during the first half. It expects to open four to five new stores in the second half as it progresses towards its long-term ambition of 300 stores.
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Looking ahead, Wickes added it remains on track to meet market expectations of around 10 per cent growth in PBT for the full year.
“This has been another period of strong volume-led performance for Wickes, as more customers choose to shop with us,” said Wickes chief executive David Wood, Chief Executive of Wickes.
“Our value-led retail proposition continues to appeal to both DIY and Trade customers, with TradePro achieving record levels of active members. Design & Installation delivered sales remain in growth, with particularly strong sales of Wickes Bespoke Bathrooms and Lifestyle Kitchens, demonstrating the appeal of our broader offer.”
“Our growth momentum through the first half has continued building into Q3, with a significant step-up to mid-single-digit LFL revenue growth in Retail”.
“Looking ahead, our digital investments are improving the customer experience and operational efficiencies and we remain confident in our strategy, continuing to invest for growth, including our ambition to reach 300 stores, to drive sustainable long-term value for shareholders.”
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