The Wickes Group Plc Board has declared an interim dividend of 3.6p. This will be paid on 3 November 2023 to shareholders on the register at the close of business on 29 September 2023.
The shares will be quoted ex-dividend on 28 September 2023
Other financial highlights include:
● Revenue growth of 0.7% to £827.7m (H1 2022 £822.3m) driven by the sales uplift in DIFM
o Core LFL -0.8%2 with growth in the second quarter as weather patterns normalised;
o DIFM delivered LFL sales up 5.8% as they continue to work through the elevated order book and with ongoing growth in ordered sales
● £34.8m adjusted profit before tax and SaaS IT investment costs (H1 2022 re-presented £41.3m4), with cost inflation exceeding revenue growth
● Adjusted PBT £31.1m after £3.7m of SaaS IT investment costs expensed as required by IAS38
● Reported profit before tax of £21.1m primarily reflecting IT separation costs (H1 2022 £33.5m)
● Cash position of £190.0m (H1 2022 £166.5m), improved from the year end position of £99.5m reflecting the seasonal working capital cycle in the business
● £25m share buyback programme under way
