Wickes Group PLC (LSE:WIX)

£ 1.556 -0.014 (-0.91%) Market Cap: 368.91 Mil Enterprise Value: 918.41 Mil PE Ratio: 12.75 PB Ratio: 2.43 GF Score: 71/100

Half Year 2023 Wickes Group PLC Earnings Call Transcript

Sep 12, 2023 / 07:30AM GMT

Release Date Price: £1.43 (+3.54%)

Transcript

David M. Wood

Wickes Group plc - CEO & Executive Director

Good morning, and thank you for taking the time to join us this morning. And I'd also like to welcome everyone who is watching via the webcast. I'm here with our CFO, Mark George, and we are delighted to share with you our results for the 6 months to the end of June. We'll spend the next 20 minutes or so taking you through the performance of the business as well as highlighting the great progress we are making on executing our strategic plans.

I'm pleased to report we've had a positive first half sales performance within what continues to be a challenging market. This demonstrates that our strategy continues to deliver. Our uniquely balanced business model, which faces into all 3 routes to home improvement projects has seen strong performance in Local Trade and Do-it-for-me, compensating for a DIY market that is normalizing post COVID. We continue to grow our digital TradePro scheme with 17% growth in membership year-on-year and Do-it-for-me delivered sales up 5.8% with orders still in growth. We have delivered profits in the half as

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