Emerging Wickes reports 2019 sales growth of 7.7%
Wickes, the soon to be demerged business from Travis Perkins, has bucked the trend of trade builders merchants and specialist distributors and delivered like for like sales growth of 4.5% in Q4 driven. It said there was continued strong performance across both Core and DIFM (do it for myself) sectors. For the full year, like‐for‐like sales growth was 8.7% and total sales grew by 7.7%.
Travis Perkins said that by acting as a separate listed entity it will enable the management team to focus on delivering a distinct business plan to deliver the best service to their primary customer base, allocating capital and resources in the optimum way to deliver sustainable returns.
Wickes chief executive David Wood said: “I am delighted to report a strong sales performance for Wickes in Q4 and for the full year, setting us up well for the intended demerger from Travis Perkins, which remains on track for Q2 2020.
“We have great confidence in our strategy, which is centred around our strong brand, a distinctive and hard to replicate customer proposition, a uniquely balanced business and a low cost and efficient operating model. We are pleased with the growth Wickes is delivering and confident in our ability to continue to grow.”
