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Wickes Group PLC on Tuesday reported higher sales in the fourth quarter of 2022 and for the full-year.
The Watford, Hertfordshire-based home improvement retailer says that sales in the 13 weeks to December 31 were up 12% year-on-year. Over the whole of 2022 sales, rose by 3.5%.
‘With the increased cost of living and colder winter months, we have seen more customers turning to Wickes for help to reduce their energy usage and bills. We’re providing market-leading value on products, from loft insulation through to draught excluders, and customers are visiting our online sustainable house guide for great hints and tips on how to reduce energy and cut back on costs,’ said Chief Executive Officer David Wood.
Looking ahead, Wickes expects pretax profit to be in line with current market expectations of between £72 million and £76 million. In 2021, Wickes recorded a pretax profit of £65.4 million.
Wickes shares were 4.8% lower at 150.50 pence each in London on Tuesday afternoon.
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