Wickes Group (WIX) H1 2025 earnings summary

Executive summary

• Achieved strong profit growth in H1 2025, with adjusted profit before tax up 17% to £27.3m, driven by volume-led sales in both Retail and Design & Installation segments and record market share in Retail.

• Group revenue increased 5.6% year-over-year to £848m, supported by productivity initiatives, targeted investments, and digital and store network expansion.

• Continued investment in technology, store refits, and product innovation to underpin growth and operational efficiency.

• Interim dividend maintained at 3.6p per share and ongoing £20m share buyback programme, reflecting commitment to shareholder returns.

Financial highlights

• Group revenue reached £848m, up 5.6% year-over-year; Retail revenue up 6.8% to £634.4m, Design & Installation up 2.1% to £213.4m.

• Adjusted gross margin improved by 0.8ppts to 36.8%, with gross profit up 7.9% year-over-year.

• Operating profit rose 14.2% to £40.1m; adjusted PBT up 16.7% to £27.3m.

• Ended H1 with £158m in cash, supporting ongoing investments and returns to shareholders.

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

Outlook and guidance

• Trading in Q3 remains in line with expectations; full-year adjusted PBT guidance unchanged and expected to meet consensus (£48.2m).

• Cost inflation expected to increase in H2 due to wage and insurance rises and higher tech investment, with SaaS projects increasing P&L costs by ~£10m.

• Capex for the year projected at £30–35m; FY dividend expected to be maintained at 10.9p.