Home improvement retailer Wickes has reported record year-on-year revenue of £1.56bn, up 1.8%, in its full-year trading results to December 31, 2022.

It cited market share gains in its Core business, following a “record year” in 2021 and a “strong” recovery in Do It For Me (DIFM) sales.

Wickes’s core business accounted for £1.187bn from £1.235bn in 2021.

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The retailer stated like-for-like sales were down 2.0% but stated its like-for-like sales were up 33.0% across a three-year period.

Its Do It For Me business was £371m, up 26% from £300.2m on the same period last year, with an order book ahead of pre-COVID levels.

However, the company’s adjusted profit before tax £75.4m was down, following a record £85.0m in 2021.

Wickes reported its Digital TradePro membership growth rate accelerated by 18% with 112,000 new customers taking the total to 746,000. Its Trade Pro sales in 2022 increased by 19%.

The company also stated it had broadened DIY customer appeal through the introduction of 30 minute click & collect, Klarna payment options, and the launch of the Wickes eBay store

Wickes stated it delivered over £20m of cost savings from productivity gains and efficiencies in 2022, and completed 12 store refits in 2022.

It opened a store in Bolton in Q4, which the retailer reports as having a strong performance in its first winter season.

Wickes also reported on its sustainability mission and outlined science-based targets for carbon emissions gained approval in December 2022.

In addition, the company launched its Sustainable Home Guide to help customers reduce energy bills and emissions.

In the first 11 weeks of 2023, trading has been in-line with company expectations with Core sales “moderately” behind the same period last year, as it states trade sales continues to normalise.

In DIFM, its delivered sales are slightly ahead year-on-year due to an elevated order book, while ordered sales are in line with the same period in 2022.

Wickes reported it has efficiency plans in place to offset inflationary pressures in 2023, with the exception of energy costs which it says will be £10m higher than in 2022.

Chief Executive of Wickes David Wood commented: “This was a period in which we achieved record sales and made further market share gains.

“While profit declined, the outcome is still significantly ahead of the pre-Covid period.

“Our performance was underpinned by our balanced business model, digital leadership and ability to offer the best value and service across Trade, DIFM and DIY.

“This has been achieved due to the expertise and dedication of our 8,100 colleagues, and I would like to thank each of them for their support over the last 12 months.

“Like all businesses we remain watchful of the external consumer environment. However, we have the right strategy and a compelling offer for customers, and look to the future with confidence.

“We will continue to invest across our distinctive growth levers, and are well-placed to achieve further market share gains.”