Wickes Group (WIX) Trading Update summary

Trading performance and revenue trends

• Retail revenue grew 3.0% year-on-year in H2 2024, with overall group revenue up 1.8% in H2.

• Design & Installation revenue decline slowed to -2.5% in H2, with ordered sales returning to growth in Q4.

• TradePro sales rose 14% in H2, with active members up 19% to 581,000.

• DIY sales saw moderate decline as customers focused on smaller projects.

• Group revenue for FY24 was £1,538.8m, with LFL revenue growth of 1.5% in Retail and -13.9% in Design & Installation.

Strategic initiatives and investments

• Opened four new stores and refitted seven, with 80% of estate now in new format.

• Acquired 51% stake in Solar Fast for £5.1m and completed a £25m share buyback.

• Raised £6.2m from sale and leaseback of Braintree store.

• Continued investment in digital channels and customer experience improvements.

Financial position and outlook

• Net cash at year end was £86.3m, with average cash of £142.6m across the year.

• FY24 adjusted profit before tax expected towards upper end of £39.7–£44.0m consensus.

• Consistent market share gains position the group for faster growth.

• Full year results for FY24 to be reported in March 2025.