UK's Wickes Group H1 revenue rises 2.1%, profit up 1.1%
UK's Wickes Group H1 revenue rises 2.1%, profit up 1.1%
Overview
UK home improvement retailer's H1 revenue rose 2.1% year-on-year to £865.3 mln
Adjusted pretax profit up 1.1% to £27.6 mln
Basic EPS fell 4.4% due to prior year's lower effective tax rate
Outlook
Wickes expects to meet consensus forecasts of about 10% growth in 2026 adjusted PBT
Company reports Q3 trading so far shows mid-single-digit LFL revenue growth in Retail
Wickes expects to benefit from lower business rates and productivity plan in H2 2026
Result Drivers
RETAIL VOLUME GROWTH - Co said higher volumes in Retail drove revenue up 0.8% despite price deflation and flat DIY sales
TRADEPRO MEMBERSHIP - TradePro sales rose 5% as active members increased to 671,000
DESIGN & INSTALLATION PROJECTS - Delivered sales in Design & Installation grew 5.7% as customers responded to enhancements in kitchen and bathroom ranges
Company press release: ID:nRSO7198Ua
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 865.30 mln |
|
H1 Adjusted Pretax Profit |
| GBP 27.60 mln |
|
H1 Basic EPS |
| GBP 0.09 |
|
H1 Dividend |
| GBP 0.04 |
|
H1 LFL sales growth |
| 0.70% |
|
H1 Pretax Profit |
| GBP 24.60 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the home improvement products & services retailers peer group is "buy"
Wall Street's median 12-month price target for Wickes Group PLC is GBp250.00, about 41.6% above its September 14 closing price of GBp176.60
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago
Reuters Recommended Reads
Sept 14 - Essar buys UK petrol station operator SGN Retail, adds 118 sites
Sept 14 - UK government seeks to acquire insolvent specialist steelmaker
Sept 14 - UK government hosts meeting with business leaders to discuss growth
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)