UK's Wickes jumps on share buyback, trading update

Wickes

20/03/2025 08:48

** British home improvement retailer Wickes WIX.L up as much as 8% to 186p; among top pct gainers on FTSE small cap index .FTSC

** Says trading in the 11 weeks of 2025 in line with expectations on higher LFL sales in its retail segment

** Posts adjusted PBT of 43.6 mln pounds ($56.6 mln), beating midpoint of company-compiled analysts' estimate of 43.2 mln pounds

** Announces further 20 million pound share buyback

** "The group remains a coiled spring, ready to capitalise on better market volumes with significant operational gearing  and strong cash conversion," analysts at Peel Hunt say

** WIX up ~20% YTD

($1 = 0.7709 pounds)

 (Reporting by Radhika Anilkumar in Bengaluru;)

 ((Radhika.Anilkumar@thomsonreuters.com;))