Wickes sees profits tumble 25% in difficult DIY market
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. But Wickes said trading had improved so far in the third quarter, with design and installation sales “stabilising”, helping shares lift 3% in Tuesday morning trading. We are on track for the remainder of the year and have been encouraged by trading at the start of the second half David Wood, Wickes It said the group remains on track for full-year pre-tax profit expectations of £40.4 million. “Whilst the market outlook remains uncertain, current trading along with the planned action taken to mitigate the impact of inflation underpins management’s outlook for adjusted pre-tax profit for full-year 2023-24,” Wickes said. David Wood, chief executive of Wickes, said: “The market for design and installation remained tough during the half and Wickes was not immune; nonetheless, we have seen a positive response to our value-led Wickes Lifestyle Kitchen range, which is growing strongly.
History of this topic
Wickes’ profits at top of forecasts amid strong trade demand
The Independent
Strong Christmas trading boosts Card Factory profits
The Independent
Wickes boosted by home insulation sales amid energy costs crisis
The IndependentDiscover Related
