Like-for-like sales of Wickes' core products were down 6.8 per cent while showroom sales fell by 13.6 per cent.
Overall group turnover at Travis Perkins increased by 44.4 per cent to£2.64 billion, with the acquisition of Wickes contributing to 41.6 per cent of the increase.
Wickes is now focusing on operating margins, which were lower by between 1.4 per cent and 6.8 per cent across last year compared with 2004.
'In acquiring Wickes, we estimated that the DIY market would turn down, but not by as much as the eventual out-turn,' the company admitted.
Cost reductions at Wickes have come primarily from better procurement of goods for resale, reducing staff numbers in stores and a number of back-office functions, as well as from lowering the cost of bought-in goods and services.
Wickes has introduced more than 1,400 products into its stores. 'We have aligned ourselves increasingly with those companies that have the greatest potential to be major strategic suppliers to the enlarged group for the long term,' the company said.
Travis Perkins established a sourcing office in China last year.
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