Home improvement retailer Wickes has seen a 3.4% dip in revenue to £799.9million, including a 4% dip in kitchen sales, for the first half of the year.

Wickes also reported a 24.8% in adjusted profit before tax on a like-for-like basis, in its latest financial results.

Design & installation like-for-like sales declined by 17%, less than the first quarter of 2024 which was 18.3%, and a single digit year-on-year decline in ordered sales.

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Wickes said it reflected a continuing soft appetite for larger ticket purchases, citing challenging market conditions.

However, its focus on the lower-priced Lifestyle Kitchens delivered 18.8% in H1 2024, serving the sub £4,000 segment of the market, where the retailer said demand had been strongest.

According to the company, over half of consumers use Wickes to fit their kitchen and bathroom products, which it says lead to incremental spend on tiling, flooring and joinery, increasing the project value.

Overall, it meant ordered sales from all Wickes kitchen and bathroom ranges and associated installations in H1 2024 saw a dip of just 4% compared to the first half results of 2023.

In its Mood of the Nation survey, Wickes found planned spend by UK consumers on a new kitchen or bathroom remains below historical norms, but stable over recent months.

Reducing operating costs and to simplify the customer journey, Wickes recently announced plans to axe 200 kitchen and bathroom advisor roles, so customers act directly with a design consultant.

The retailer stated market demand for large projects has impacted related sales categories, such as ties and flooring, but Wickes market share has continued to grow.

In fact, DIY (or Retail) was an uptick for the company, which Wickes reported as providing record market share, with increases particularly in décor, garden, tiles and flooring.

Sales for its TradePro local traders membership also increased by 14.1% in the first half of 2024, compared to the same period in 2023.

While the initial roll-out of Wickes Solar, with point-of-sale in 50 trial sales and live digital purchase journey has reaped “encouraging” early response in leads and conversion.

Wickes reports it is continuing to invest in its store network to modern, improve and create additional fulfilment space.

According to Wickes, its refit programme delivers 25% return on capital, with “strong” sales uplift, particularly from Design & Installation area where it can show its full offer of kitchens and bathrooms.

The refits have been designed to enable to upgrade the efficiency of its multichannel order, pick and despatch which drives sales densities and underpins its 30-minute Click & Collect service.

Wickes reports 179 stores of 78% are now in the new format, with Ashford, Burgess Hill and Slough completed in the first half of 2024.

In addition, the company opened two new stores during the first six months of 2024, in Long Easton and Durham, but closed two showrooms in Ashton Gate and Inverness which were not meeting sales returns.

It means the retailer ended the half year with 229 stores but has plans for seven refits in the full year and a total of four new stores by the end of the year.

Looking at the current market, Wickes reports an improved trend for trading in Q3, with Retail like-for-like sales strengthening and stablilising Design & Installation.

Looking ahead, while Wickes states the outlook remains uncertain, it reports current trading along with action to mitigate inflation leaves the company “well-positioned” as the market improves.

Chief executive of Wickes David Wood commented: “This first half performance is testament to the hard work of all our colleagues and demonstrates the strength of our balanced business model.

“We achieved further volume growth and record market share gains in Retail, with TradePro remaining a key differentiator.

“The market for Design & Installation remained tough during the half and Wickes was not immnute; nonetheless, we have see a positive response to our value-led Wickes Lifestyle Kitchen range, which is growing strongly.

“We are on track for the remainder of the year and have been encouraged by trading at the start of the second half.

“Looking further ahead, our outstanding customer offer, proven growth levers and focus on cost control leave us well-placed within a home improvement market which continues to offer significant opportunities.”