Wickes posts jump in Q3 sales, confirms guidance

(Sharecast News) - Home improvement specialist Wickes Group posted a jump in third-quarter sales on Thursday, on the back of solid customer demand across the business. Revenues at the FTSE 250 firm rose by 6.9% in the 13 weeks to 27 September to £420.1m. Underlying sales growth was 5.9%.

Helping to drive the growth was a strong performance in its retail division, which supplies domestic and trade customers online and through 230 stores.

Revenues surged 5.6% to £312.5m on a like-for-like basis, helped by an 8% uplift in sales to TradePro customers.

The turnaround at Wickes' project-based design and installation division also continued, with revenues ahead 7% at £107.6m on the same basis.

The retailer said: "The positive growth within design and installation has strengthened.

"Following the actions taken in the second half of 2024 to enhance our customer offer, we achieved a fourth consecutive quarter of growth in orders."

David Wood, chief executive, said: "This has been another strong period for Wickes, with sales driven by an increase in volumes.

"Looking ahead we remain well-placed for the full year as we continue support our customers across all their home improvement projects."

Consensus is currently for full-year pre-tax profits of £48m, a near 11% improvement on 2024.

As at 0930 BST, shares in Wickes were up 1% at 227p.

Shore Capital, which has a 'buy' rating on the stock, said: "With the company continuing to deliver on its revenue growth, and another reiteration of guidance, we would expect increased investor confidence on the back of today's update, as the company builds on its positive momentum."