Whilst we are mindful of the macroeconomic backdrop, we remain confident in our ability to drive further market share gains given the strength of our proposition and improvements we have made to our offer. In DIFM, delivered sales are slightly ahead year on year due to the elevated order book ordered sales are in line with the same period in 2022. Core sales are moderately behind the same period last year, with Trade sales in growth and DIY continues to normalise. The Company is reviewing its capital allocation policy and will provide an update along with its Q2 trading update in JulyĬurrent Trading & Outlook In the first 11 weeks of 2023 trading has been in line with our expectations.Outlined Science-Based Targets for carbon emissions with approval received in December 2022, and launched our Sustainable Home Guide to help customers reduce energy bills and emissions.First new store opened in Q4 in Bolton, with a strong performance in its first Winter season.12 refits completed in 2022 ROCE and sales uplifts remain strong and in line with expectations.Delivered over £20m of cost savings from productivity gains and efficiencies in 2022.Strong recovery in DIFM delivered sales, up 26.1% LFL, as we worked successfully through the order book, which remains ahead of pre Covid levels.Further market share gains in Core, following a record year in 2021, with Core LFL down 2.0% three-year LFL of 33.0%.Successfully broadened our DIY customer appeal through the introduction of 30 minute click & collect, Klarna payment options, and the launch of the Wickes eBay store.Digital TradePro membership growth rate accelerated to 18% with 112,000 new customers (2021: 81,000), taking the total to 746,000 TradePro sales in 2022 increased by 19%.Final dividend of 7.3p, giving a total of 10.9p for the full financial year in line with guidance.Net cash position of £99.5m (2021 £123.4m), reflecting the impact of £24.4m IT separation costs.Statutory profit before tax of £40.3m after absorbing non-recurring costs of £35.1m.
Adjusted profit before tax £75.4m, in line with guidance, following a record £85.0m in 2021.Further market share gains in Core, and a strong recovery in delivered DIFM sales.Total year-on-year revenue growth of 1.8% to a record £1,562.4m.Like for Like (‘LFL’) sales up 3.5% in FY2022, and 22.8% on a three-year basis.Record sales and further market share gains well-placed to continue to outperform the market Financial Highlights
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