Wickes Group (LSE:WIX), the home improvement retailer, reported revenue of £865.3m for the 26 weeks to 27 June, up 2.1% from £847.9m a year earlier.
Retail revenue rose 0.8% despite 2.4% price deflation, while Design & Installation revenue grew 5.7% on a strong order book.
Adjusted pre-tax profit rose 1.1% to £27.6m, with productivity actions partly offsetting cost inflation, while statutory pre-tax profit reached £24.6m, up from £24.2m. Net cash stood at £151.6m, down from £158m a year earlier, after £26.3m returned to shareholders and £9.2m of net funding for employee share purchases.
The board declared an interim dividend of 3.7p, up 2.8% from 3.6p.
"Our growth momentum through the first half has continued building into Q3, with a significant step-up to mid-single-digit LFL revenue growth in Retail", said chief executive David Wood.
TradePro sales grew 5%, with active members rising to 671,000 from 615,000, and the company gained retail market share in decorative, gardening and timber categories.
Wickes carried out eight store refits in the period and plans four to five new store openings in the second half as it pursues an ambition to reach 300 stores.
The company said trading in the third quarter so far has shown a significantly improved trend, and it remains on track to meet consensus expectations of around 10% growth in adjusted pre-tax profit for 2026, citing its productivity plan and lower business rates. Wickes will release its third-quarter trading update in late October.
News Intelligence what this means for the company
Wickes reported first-half revenue growth of 2.1% to £865.3m, with retail sales up 0.8% despite 2.4% price deflation and Design & Installation revenue growing 5.7%. Adjusted pre-tax profit rose 1.1% to £27.6m. The company lifted its interim dividend to 3.7p and reiterated its 2026 adjusted profit growth guidance of around 10%, citing productivity gains and lower business rates. The growth is modest against the deflation headwind—volume gains are offsetting price falls, but profit expansion remains constrained by cost inflation.
The dividend increase and maintained 2026 guidance signal management confidence, but the 1.1% profit growth in the first half lags revenue growth, indicating margin pressure. Net cash of £151.6m remains solid, though down £6.4m year-on-year after shareholder returns, leaving room for the planned store expansion (four to five openings in H2, targeting 300 stores) without balance-sheet strain.
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