Wickes Group Reports Improved First-Half Performance Amid Deflationary Pricing
Wickes Group reported a rise in first-half revenue and adjusted profit before tax for the period ending June 2026. Revenue increased by 2.1%, while adjusted pre-tax profit rose to £27.6 million, driven primarily by retail volume growth and an increase of 5.7% in design and installation services. Despite a deflationary pricing environment and rising costs, the company maintained strong customer engagement with frequent shopping activity both online and in stores. Momentum continued into Q3 as like-for-like revenue grew at mid-single-digit rates during the first 11 weeks of the quarter. TradePro membership reached an all-time high of 671,000 members, contributing to a 5% sales increase for that segment. Wickes also returned £26 million to shareholders and raised its interim dividend by 2.8%. The company plans four to five new store openings in the second half of 2026 with accelerated expansion expected from 2027 onward. Digital services, including Click & Collect and home delivery, saw a 7% sales increase, supported by high customer satisfaction ratings. Design and installation revenue growth was volume-led but is expected to flatten out due to shifts in project types toward lower average order values.
Topics: adjusted profit dividend increase retail performance revenue growth store expansion