Wickes Group Delivers Strong H1 Profit Growth, Maintaining FY25 Outlook

Wickes Group Plc (LON:WIX) announced robust interim results for the 26 weeks ending June 28, 2025, showcasing solid profit growth driven by increased volumes across both its Retail and Design & Installation (D&I) segments. The company's FY25 expectations remain unchanged.

Following the release, Wickes shares rose, up 1.6% at 198.4p as of 08:25 am, after initially reaching a high of 202p per share.

Total revenue reached £847.9 million, a 5.6% increase compared to £803.2 million in H1 2024. Retail revenue experienced a strong 6.8% growth, fueled by volume increases. The Design & Installation segment also demonstrated a positive trend, returning to like-for-like (LFL) growth in Q2 through self-help initiatives.

Adjusted profit before tax surged by 16.7% to £27.3 million, up from £23.4 million in the prior year. This improvement reflects revenue growth, operational leverage, and successful productivity savings. Statutory profit before tax also saw an increase to £24.2 million from £22.9 million in H1 2024.

Wickes boasts a solid net cash position of £158.0 million, compared to £152.4 million in H1 2024, after returning £24.8 million to shareholders.

The company declared an interim dividend of 3.6p per share, consistent with the previous year, and an ongoing £20 million share buyback program.

The Retail segment's growth was said to have been significantly boosted by a 10% increase in TradePro sales, with active members rising to 615,000 from 541,000 in H1 2024.

DIY sales also contributed with mid-single-digit growth. Wickes said it achieved record Retail market share, particularly in timber, garden maintenance, and decorating categories.

Current trading in Q3 is said to be in line with expectations. However, the company anticipates increased people costs, and the impact of new store openings will be more pronounced in H2.

Technology investments in SaaS projects are expected to increase P&L costs by approximately £10 million on a full-year basis. Despite these cost increases, the strong first-half performance and ongoing productivity initiatives allow Wickes to remain comfortable with current consensus expectations for adjusted PBT in 2025.

David Wood, Chief Executive of Wickes, commented, “Wickes has delivered a strong first half, with volume growth across the Group… 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”.