The Wickes home improvement retailer has raised its full year profit guidance following a continued good performance in its fourth quarter to date.
In a trading update, the retailer said it has benefited from its balanced business model in the period, with sales coming in line with expectations.
Wickes now expects full year adjusted pre-tax profit to be no less than £83 million.
As expected, sales in Wickes’ core categories are currently lower year-on-year against tough comparatives, but are ahead on a two-year basis. However, margins have come in better than expected due to the retailer being able to mitigate pressures resulting from rising inflation and freight costs.
Looking ahead, Wickes said its trading environment continues to remain uncertain.
