Wickes Group PLC (LSE:WIX) said it was on track to hit full-year guidance as it unveiled plans for 20 new stores over the next five years.
The do-it-yourself retailer said revenue in the 26 weeks to July 1 rose 0.7% to £827.7 million from £822.3 million the year before, driven by the sales uplift in do-it-for-me (DIFM) sales.
DIFM delivered a like-for-like sales gain of 5.8% as Wickes said it continued to work through its elevated order book.
Wickes reported pre-tax profit dropped to £21.1 million from £33.5 million, primarily reflecting IT separation costs.
The firm reported good progress on productivity gains, offsetting cost inflation with the exception of energy costs.
Wickes plans six refits in the first half, with 11 in total planned for the full year alongside plans to open around 20 new stores over five years.
Trading in July and August has been in line with expectations, and Wickes continues to expect full year adjusted pre-tax profit in line with market consensus – which it put at £45-48 million.
The dividend was unchanged at 3.6p.