Wickes highlights improving Retail trend as results meet expectations
(Alliance News) - Wickes Group PLC on Tuesday said it is on course to meet full-year profit expectations after reporting a "significantly" improved trend so far in its third quarter.
In response, shares in the Watford, England-based home improvement retailer surged 8.6% to 191.80 pence each in London on Tuesday morning, leaving them down 2.5% over the last 12 months.
Wickes said pretax profit nudged up to GBP24.6 million in the 26 weeks ended June 27 from GBP24.2 million the year prior, or to GBP27.6 million from GBP27.3 million on an adjusted basis.
Revenue grew 2.1% to GBP865.3 million from GBP847.9 million a year ago, in line with guidance provided in July.
Wickes highlighted increasing volume growth in Retail driving revenue up 0.8%, despite 2.4% deflation, while a strong order book in Design & Installation helped push sales up 5.7%, delivering its fifth consecutive quarter of sales growth.
TradePro sales grew 5%, driven by an increase in active members to 671,000 from 615,000 the year prior, while Retail saw particular strength in decorative, gardening and timber.
Wickes said that, as anticipated, trading in the third quarter so far has shown a "significantly" improved trend, with a step up in Retail to mid-single-digit like-for-like revenue growth.
As a result, "whilst the consumer environment remains uncertain, we are on track to meet consensus expectations of [around] 10% growth in adjusted [pretax profit] for 2026," Wickes said in a statement.
In 2025, Wickes reported adjusted pretax profit of GBP49.9 million.
The interim dividend was boosted by 2.8% on-year to 3.7 pence per share from 3.6p.
By Jeremy Cutler, Alliance News reporter
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