Home improvement retailer Wickes has announced a robust first half of the year, marked by a record retail market share and a significant 16.7% increase in adjusted pre-tax profit. Both DIY and trade customers contributed to this growth, driving total revenue up by 5.6% year-on-year.
Key Takeaways
- Record retail market share achieved.
- Adjusted pre-tax profit rose to £27.3m.
- Total revenue increased by 5.6% to £847.9m.
- TradePro sales saw a 10% uplift.
- DIY sales experienced mid-single digit growth.
Financial Highlights
Wickes reported total revenue of £847.9m for the 26 weeks ending 29 June 2025, a 5.6% increase compared to the same period last year. Adjusted profit before tax climbed to £27.3m, up from £23.4m in H1 2024. Statutory pre-tax profit also saw an improvement, reaching £24.2m from £22.9m a year prior.
Driving Growth
The company’s retail sales grew by 6.8%, with a notable 10% increase in TradePro sales, reflecting a rise in active membership to 615,000. DIY sales also contributed positively with mid-single digit growth. Wickes highlighted that its Design & Installation arm has seen restored like-for-like sales growth in the second quarter, outperforming the broader market for larger ticket items, thanks to implemented self-help measures.
Strategic Focus and Future Outlook
Chief Executive David Wood attributed the success to a focus on convenience, choice, and speed in the retail sector, which boosted TradePro sales. He also noted that innovations in strategic categories and a broader appeal have encouraged more customers to choose Wickes for their home improvement projects. Operational efficiency, digital investments, and productivity savings were also cited as key factors in the improved profitability.
Wickes maintained a net cash position of £158m and declared an interim dividend of 3.6p, consistent with the previous year, alongside an ongoing £20m share buyback programme. The retailer is on track with its store expansion plans, having opened one new branch and completed four refits in the first half of 2025. Further expansion is planned, with five to seven new stores and 10 to 15 refits scheduled for the remainder of the year.
While trading in the third quarter is in line with expectations, Wickes anticipates that higher people costs, new store phasing, and a £10m investment in technology will impact the second half of the financial year.
Sources
- Wickes posts record retail market share, Retail Gazette.
