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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
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Builders and building materials

Wickes Group grows revenues against strong prior year, reaffirms full-year outlook

The DIY building products retailer expects sales increase for the full year to be ahead of 2019 as installation lead times return to more normal levels

Wickes Group PLC (LSE:WIX) said "buoyant demand" helped drive sales against strong comparatives, with the home improvement retailer reaffirming full year guidance.

The company, which separated from Travis Perkins (LSE:TPK) last April, said total group sales over the 20 weeks ended May 21 were up 22.4% compared to the pre-COVID period.

Against the prior year, group like-for-like sales for the first 20 weeks were down 0.6%, while core like-for-like sales declined 7.2%.

The DIY building products retailer expects the sales increase for the full year to be ahead of 2019 as installation lead times return to more normal levels.

"Our growth levers are delivering strong returns and we are excited about our plans to optimise our store estate with refits and new stores," said David Wood, chief executive.

"Looking ahead, while we remain mindful of the uncertain macroeconomic environment, we continue to be confident of the opportunities available to Wickes within the large and growing home improvement market."

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