Wickes saw a quadrupling of click-and-collect orders last year, the company revealed as it progressed plans to split from parent Travis Perkins and list on the London Stock Exchange.
The DIY and home improvement retailer said it saw a doubling in digital customers last year, with click-and-collect orders rising 450% and deliveries to customers’ doors jumping 120%.
Owner Travis Perkins on Wednesday announced that it had submitted documents to the Financial Conduct Authority as part of the process of listing Wickes.
The company did not reveal when investors will be able to start trading shares in Wickes. But it said it intends for the business to be admitted to the main market of the London Stock Exchange.
Travis Perkins has been pursuing the demerger since 2018, when bosses decided the two companies were best served by being separated.
They said a split would speed up decision making, and allow the two businesses to have independent strategies.
The divorce was on course before Covid-19 struck, when Travis Perkins decided to slam on the brakes until it had steered the way through the pandemic.
Earlier this month the demerger process was restarted.
Wickes said it recorded a compound annual revenue growth rate of 4.9% between 2013 and 2019, adding more than £300 million to £1.3 billion.
In 2020 the company grew revenue 5% to £1.3 billion on a like-for-like basis and made an £82 million adjusted operating profit.
However, this was driven by online orders and things in the company’s 233 shops were less rosy. During the key winter sale period, so-called “do it for me” orders dropped 50% compared to a year earlier.
Wickes chief executive David Wood said: “The results we delivered during this period are evidence of the strength of our unique proposition, digital capability and efficient operating model, which has enabled us to respond rapidly to the changing demands of our customers.
“The past year has prompted many of us to think differently about how we use our homes, and as a result we are seeing strong demand from customers who are looking to make changes to their living spaces.
“The current year has started well and we are confident in continuing to deliver sales growth ahead of the market for the full year.”
