Wickes reports growth of 14 per cent

UK DIY chain Wickes has reported year-on-year sales growth of 14.0 per cent to GBP 1.53 bn (approx. EUR 1.82 bn) at the end of its completed 2021 financial year (ending 1 January 2022). Like-for-like sales grew 13.0 per cent compared to 2020 and 18.6 per cent compared to 2019, the company announced in a statement.

While 2021 core sales increased by 15.1 per cent to GBP 1.235 bn (approx. EUR 1.470 bn), DIFM ("do-it-for-me") sales increased by 9.4 per cent to GBP 300.2 mio (approx. EUR 357 mio). Adjusted profit before tax increased to GBP 85.0 mio (2020: GBP 49.5 mio).

By its own admission, this means that the company achieved twice the level of growth last year compared to the industry as a whole on the British Isles. For the coming years, Wickes has announced plans to invest GBP 15 mio (approx. EUR 16.66 mio) annually. This will also accelerate the store conversion programme, with 12 to 15 stores being converted per year.