Home Business News Wickes to post strong profit following pandemic surge in sales

Wickes to post strong profit following pandemic surge in sales

by LLB Finance Reporter
2nd Jun 21 7:38 am

Wickes are set to post annual profits towards the top of their targets following a surge in DIY in recent months.

In the 21 weeks to 22 May sales soared compared to the same period last year which saw a 23.1% rise due to the pandemic.

In April the group said trading was “notably strong” which was drive by strong sales by DIY and local trade customers.

Wickes expect in for the half year pre-tax profits of around £45m,whilst predicting full year profits in the top half of their £55m to £74m.

David Wood, chief executive officer 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.”

Shares in the company were 5.1% higher at 269p after early trading on Wednesday.

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