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BUSINESS LIVE: Wickes hikes profit forecast; Selfridges chief’s return

BUSINESS LIVE: Wickes boosts profit guidance; Ex-Selfridges chief set for comeback; Deliveroo founder sells £47m of shares

Home improvement retailer Wickes has raised its full-year profit guidance, having continued to trade well in its fourth quarter so far.

The group, which demerged from Travis Perkins in April, forecast full-year 2021 profit before tax of no less than £83million, surpassing analyst estimates of £74million to £75million.

The sale of Selfridges to Thai businessmen will see the return of Vittorio Radice to the retailer he ran two decades ago.

The billionaire Canadian Weston family, who own Selfridges, have agreed to sell the department store to the Central Group conglomerate.

Deliveroo founder Will Shu has sold £47million of shares in the takeaway food group to pay a tax bill.

The 42-year-old offloaded 16.9m shares at 278p each – well below the 390p float price earlier this year.

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Wickes has continued to trade well in the home improvement retailer’s fourth quarter so far