Wickes Group Plc have announced a final dividend declared of 7.3p, giving a total of 10.9p for the full year. Total returns to shareholders of £41.1m in the year from dividends and completion of £25m share buyback
Other financial highlights include
• Continued growth in Retail with revenue +1.9%; Challenging market conditions led to 10.5% decline in Design & Installation revenue; Total revenue of £1,538.8m (2023: £1,553.8m) down 1.0% year-on-year
• Productivity initiatives largely mitigated impact of operating cost headwinds
• Adjusted profit before tax of £43.6m (2023: £52.0m), due to weaker consumer demand for larger ticket items and operating cost inflation
• Statutory profit before tax of £23.2m (2023: £41.1m), reflecting a non-cash impairment charge booked against IFRS 16 lease assets and property, plant and equipment
• Net cash position of £86.3m (2023 £97.5m) and average cash across the year of £144.3m
