(Reuters) – British home improvement retailer Wickes Group reported a nearly 17% rise in half-year profit on Wednesday, underpinned by membership growth in its loyalty programme for trade professionals and increased do-it-yourself sales.
Wickes maintained its forecast for annual adjusted pre-tax profit, in line with analysts’ estimate of 48.2 million pounds ($65.20 million), according to a company-compiled consensus.
“Whilst, we remain mindful of the cost headwinds facing the sector as a whole, continued investment in our growth levers and digital initiatives means we are well positioned for the future,” CEO David Wood said in a statement.
The company reported an adjusted pre-tax profit of 27.3 million pounds for the 26-week period ended June 28, while revenue stood at 847.9 million pounds, up 5.6% from last year.
($1 = 0.7393 pounds)
(Reporting by DhanushVignesh Babu in Bengaluru; Editing by Sherry Jacob-Phillips)
