The c.£27bn UK home improvement market has grown at 2.5% pa over the past 10 years, driven by increasing home ownership, the rising number of households, people spending more time at home due to hybrid working and consumers investing to make their homes more energy efficient.

Our balanced business model enables us to access three customer propositions of Local Trade, Design & Installation and DIY, offering greater resilience through the economic cycle. Wickes has just c6% share of the UK RMI market, offering significant opportunity for future growth. Continued market share gains and underlying market growth should generate mid single-digit revenue growth over the cycle.

Our proven growth levers are successfully driving sales densities, profit contribution and returns from stores. Our efficient model keeps operating costs low, generating operating leverage so that over the economic cycle we would expect to grow profit faster than revenue.

Our profitable business model generates strong operational cash flow. This cash flow supports future investment into proven growth levers such as store refits and digital, as well as enhancing shareholder returns through dividends and share buybacks.