UK's Wickes thrives on home upgrades, while Travis Perkins battles building slump

* Wickes ⁠reports profit above expectations

* Travis Perkins posts ​12.5% fall in adjusted operating profit

* Wickes gains record market share in home improvement sector

March ​17 (Reuters) - ‌British retailer Wickes posted annual profits that beat expectations as it gained record market share in ⁠the home-improvement business while former parent Travis Perkins suffered ⁠an earnings slump on prolonged weakness ​in construction. The contrasting fortunes, five years after Wickes' demerger, highlight the differences between the relatively resilient home-improvement sector and the construction market as higher borrowing costs and economic uncertainty ​weigh on ‌home purchases and new building activity.

Wickes reported on Tuesday adjusted profit before tax of 49.9 million pounds ($67 million) for 2025, ahead of market expectations, and said it would accelerate plans to expand its store network to 300 outlets from 230.

The retailer ​gained record market share as more customers undertook smaller home upgrades such as decorating ‌and refurbishments.

Meanwhile, building-material supplier Travis Perkins reported a 12.5% fall in annual adjusted operating profit as weak housing and construction activity hit ‌demand.

Wickes expects 2026 profits to grow while Travis Perkins flagged a subdued start to trading as it focuses on improving its customer proposition.

FOCUS ON WINNING BACK MARKET SHARE

Wickes ​CEO David Wood told Reuters that local tradespeople serving existing homeowners remained "very busy" with work pipelines exceeding ‌12 months, while "one in two DIY customers plan to decorate a room this year".

The company achieved record retail market share with particular strength in timber, tiling and flooring and ⁠paint, helped ⁠more by higher volumes than pricing.

Travis Perkins, which was "aggressive ‌on the prices" to win back market share, particularly for plasterboard, insulation and bricks, said it would take ​a more "nuanced" approach ​in 2026 to protect margins, as costs remained elevated.

"We've started ‌to see communications coming in from manufacturers talking about energy surcharges, talking about surcharges on transportation," newly appointed CEO Gavin Slark told analysts.

Wickes Group P.

Travis Perkins