Wickes Shares Jump on Trading Pickup and Reaffirmed Profit Outlook

By EC Assets · Published

Wickes shares rose significantly following the retailer's report of improved trading conditions and reaffirmed profit forecasts. The company's shares jumped as much as 8.3% during trading. This movement occurred as Wickes indicated a pickup in its business activities. The British retailer projected its 2025 profit outlook would align with market consensus. Wickes also announced plans for a 20 million pound share buyback. Wickes reported a 2.1% increase in its first-half revenue. This growth was driven by a 5.7% rise in Design & Installation sales. Project activity within Design & Installation increased during the period. Retail revenue grew by 0.8%, supported by higher volumes. The company ended the period with net cash of 151.6 million pounds. This article is intended for informational purposes only. It does not constitute investment advice.

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