Wickes hails 'strong start' to year as firm benefits from warmer weather

In its retail arm, the group saw revenue growth of 9.6 per cent, while revenue remained broadly flat at £136.4m in the firm’s design & installation wing.

In a statement to the London Stock Exchange, the firm said: “We have been well positioned to benefit from the warmer weather at the start of this year, which has supported the strong sales performance in retail.

“For example, in the week of the early May bank holiday we had our biggest ever week for sales of compost and top soil.”

The company said that work was currently underway to convert four former Homebase stores as part of its plans to open between five and seven new stores in 2025.

The firm also refitted a further three stores in the period.

David Wood, chief executive of Wickes, said: "This has been a strong start to the new financial year, with the further increase in sales driven exclusively by volume growth, as more customers shop with us.

"Within Retail, we have gone from strength to strength. We have taken further market share and seen a very good market outperformance in timber, hardware, decor and garden.

"In Design & Installation, we are benefitting from the actions taken to enhance the Wickes offer. This is a segment demonstrating real momentum, with a second quarter in a row of ordered sales growth.

"While we continue to be mindful of consumer sentiment and a challenging external environment, we have a strong platform in place and we are well set to continue delivering against our strategy."

The firm added that in 2025 it will “step up” its level of investment in technology in a bid to “enhance the customer experience”.

A statement from the company added: “The actions we have taken to invest in our growth levers and productivity programme have set us up well for a successful 2025. Whilst the consumer outlook remains uncertain and the business faces significant cost headwinds, we have made a good start to the year and remain comfortable with current consensus expectations for adjusted profit before tax in 2025.”

The consensus from analysts currently sees Wickes posting adjusted profit before tax of around £47.7m in 2025.

The company is set to report its first half trading in July.