Wickes Group plc (WIX) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Well, good morning everyone and thank you for joining us here today and also for those of you who are joining by webcast. I'm here with our CFO, Mark George, and together we would like to take you through the performance of the business for the 2024 year, as well as highlighting how our distinctive business model and proven growth levers continue to drive market outperformance and present us with great opportunity in the UK's large home improvement market. 2024 has been a good year for Wix. Another year where our balanced business model has helped us deliver a strong performance and outperform the market. In our retail business, the increase in total revenue has been driven by volume growth as we attract more customers and we have accelerated our market share gains. As we have signposted on our last two trading updates, we are seeing an improved performance in our design and installation business, driven by our own actions rather than any uptick in the market. I am also delighted to report an adjusted profit before tax at the upper end of market expectations at £43.6 million. I'd like to take this opportunity to thank all of my fantastic colleagues for their incredible work in delivering these results and as always helping the nation feel house proud. It is clear that our continued investment in our proven growth levers is delivering results. We have grown TradePro sales by 14% in the year and have made a number of interventions in our design installation value chain which are working well and have translated into a return to ordered sales growth. We are seeing real gains in productivity as our investments in technology bear fruit. And Mark will share a good example of this with you shortly. And our new store opening and refit plans are driving further sales growth w...