Wickes Group PLC (LSE:WIX) expects full-year profit to be at the upper end of guidance after strong sales to Trade in the fourth quarter.
In the 52 weeks to 30 December 2023, like-for-like sales (LFL) fell 0.3% from the year before, the home improvement specialist said.
Adjusted pretax profit is expected to be at the upper end of the market consensus range of £44.9-£48.3 million.
Wickes said full-year sales in its Core business (product sales to Trade and DIY customers) were in line with the prior year with a positive fourth quarter which saw sales growth of 1.2%.
This was driven by positive volume growth, with slight selling price deflation in the quarter.
Do-It-For-Me (DIFM) LFL sales were slightly down in the full year and down 13.7% in the fourth quarter, reflecting a more subdued consumer environment for larger projects.
In the first few weeks of the first quarter, trading in Core has been in line with the prior year but DIFM sales are expected to be lower year on year.