Wickes boss 'excited' by potential of Yorkshire firm Solar Fast as presence rolled out to 50 stores

The company specialises in solar panel installations along with a smaller business installing gas boilers.

In a trading update for the first half of the year, Wickes revealed it has now rolled out Solar Fast point-of-sale assets in 50 of stores and started promoting its products on the Wickes website.

David Wood, Chief Executive of Wickes, said: "Our excellent value and service-led offer gives DIYers and tradespeople reason to keep coming back to Wickes.

"Against a challenging trading backdrop, we have grown volume and taken further market share in Retail, with our TradePro scheme continuing to show strong momentum as local trade professionals turn to Wickes to save them time and money.

"We're seeing good demand for our lower-priced Wickes Lifestyle Kitchens, reflecting customers' desire for quality and value.

"We continue to invest in our growth levers and are particularly excited about the recent acquisition of Solar Fast."

Wickes has an option to purchase the remaining 49 per cent of the Solar Fast business within the next five years as part of the deal for the company.

Solar Fast sales will be part of the Design and Installation arm of the Wickes business, which made £166.7m in the first six months of the year – down 17 per cent on the same period in 2023.

Retail sales were one per cent up at £633.2m.

Wickes said while shop sales have held up, falling design and installation revenue reflected both strong performance in early 2023 and “soft consumer appetite” for more expensive purchases.

The firm’s trading statement said: “Retail sales remain resilient and we have continued to increase market share to record levels, demonstrating the continued strength of Wickes' great value and service-led proposition.

"Growth in the first half was driven by volume, with selling price deflation of around 3 per cent.

"Design & Installation delivered sales in the half reflected the continued soft consumer appetite for larger ticket purchases and a strong comparative in H1 2023.

"Ordered sales in the first half have shown a single digit year-on-year decline.

"Our ongoing strategic focus on our lower-priced Wickes Lifestyle Kitchens continues to deliver good results, with sales up 18.8 per cent year-on-year in H1.”