Wickes Group (WIX) H1 2025 earnings summary

Executive summary

• Achieved strong profit growth in H1 2025, with group revenue up 5.6% to £848 million and adjusted profit before tax rising 17% to £27.3 million, driven by volume-led sales in both Retail and Design & Installation segments.

• Retail segment attained record market share, supported by 10% TradePro sales growth and mid-single digit DIY growth, while Design & Installation returned to like-for-like growth in Q2.

• Productivity initiatives, digital investments, and store network expansion underpinned growth and helped mitigate inflationary pressures.

• Interim dividend maintained at 3.6p per share; £20 million share buyback programme ongoing.

• Strong cash generation enabled ongoing dividends and share buybacks, with net cash position of £158 million at period end.

Financial highlights

• Group revenue increased by £45 million year-on-year to £847.9 million, with Retail revenue up 6.8% and Design & Installation up 2.1%.

• Adjusted profit before tax rose 16.7% to £27.3 million; statutory PBT up 5.7% to £24.2 million.

• Adjusted gross margin improved by 0.8ppts to 36.8%; operating profit increased 14% to £40.1 million.

• Ended H1 with £158 million in cash; interim dividend of 3.6p per share announced.

• Returned £25 million to shareholders via dividends and buybacks in H1.

Outlook and guidance

• Trading in Q3 is in line with expectations; full-year adjusted PBT guidance remains unchanged, with consensus at £48.2 million.

• H2 to see higher people and technology costs, with SaaS investments increasing P&L costs by ~£10 million.

• CapEx for the year expected between £30 million and £35 million, back-weighted to H2.

• FY dividend expected to be maintained at 10.9p.