DJ WICKES GROUP PLC: Trading Update
WICKES GROUP PLC (WIX)
WICKES GROUP PLC: Trading Update
01-Jun-2021 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014
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1st June 2021
Wickes Group plc - trading update
Strong sales volumes drive trading ahead of expectations
Wickes Group plc today provides an update on year to date trading performance and profit guidance.
Group Sales have continued to perform strongly, with total like for like growth in the 21 weeks to 22nd May 45.7% ahead
year on year, 23.1% on a two year basis against the equivalent period in 2019.
Within Core, YTD like-for-like sales were ahead by 53.1% year on year, 46.2% on a two year basis. Trading was notably
strong through April, driven by sales volumes in both local trade and DIY and continued to be underpinned by our
digital capability. Trading in May has settled back in line with expectations.
Following the re-opening of our Do It For Me ("DIFM") Showrooms on the 12th April, we are encouraged by our kitchen and
bathroom leads and order pipeline, which is expected to deliver strong like-for-like sales growth in the second half of
the year.
Whilst there remains uncertainty in the balance of full year outlook, following stronger than expected YTD core sales
growth, we anticipate half year adjusted PBT* of around GBP45m and full year adjusted PBT within the top half of the
range of analyst expectations (current range GBP55m - GBP74m).
David Wood, CEO of Wickes, said: "At Wickes, we are here to help the nation feel house proud, and I am delighted with
how the entire business has responded to the continued strong demand for our products and services. Availability
constraints and inflationary pressures across some raw materials have been well-flagged, but we have strong supplier
relationships and are working closely with them to ensure we continue to provide customers with the products they need
at the best possible value."
Wickes Headland +44 (0) 0203 805 4822
Investor Relations PR Adviser to Wickes
Andy Hughes +44 (0) 777 669 2736 Lucy Legh, Will Smith, Charlie Twigg
investorrelations@wickes.co.uk wickes@headlandconsultancy.com
*Adjusted PBT represents profit before tax on an IFRS basis and excludes adjusting items which will comprise demerger costs and IT separation costs for 2021. -----------------------------------------------------------------------------------------------------------------------
Category Code: TST TIDM: WIX LEI Code: 213800IEX9ZXJRAOL133 Sequence No.: 108462 EQS News ID: 1202869 End of Announcement EQS News Service =------------------------------------------------------------------------------------ Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1202869&application_name=news
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June 01, 2021 02:01 ET (06:01 GMT)
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