Express & Star

Sales up again at Likewise as flooring group opens new centre

Likewise Group plc has reported sales in group businesses in both residential and commercial flooring have continued to increase.

Likewise's new Scotland base

In the year to date, Likewise Group revenue has increased by 17.7% against the corresponding period last year, and in the Likewise branded businesses sales are up by 24.5%.

It comes as the UK floor coverings distributor announced its new High Bay Distribution Centre in Glasgow has commenced operations.

The 47,000 sq ft premises provides a further 1.7 million cubic feet of extra storage and processing capacity to serve not only Scotland but also the Likewise logistics network for England and Wales.

Tony Brewer, chief executive of Likewise Group plc, which is headquartered at Birmingham Business Park, said: “We continued to trade in line with current market expectations due to the ongoing investment in sales and marketing which is continuing to accelerate gains in market share.”

“We are all committed to developing Likewise towards its medium term objective of breaking through the £200 million sales level.”

Likewise reported final results to December 31, 2022 with sales up 104./4% and turnover up from £60.5 million in 2021 to £123.6 million. Underlying profit before tax was up 84.8% from £1.38 million in 2021 to £2.56 million.

Mr Brewer said the result was driven by continued investment into sales and marketing initiatives and an increase in distribution capacity from circa 8 million cubic feet in 2021 to circa 15 million cubic feet.

The next trading update will be provided at the Annual General Meeting on June 29.

Likewise Group includes Likewise Rugs & Matting, Floors by Lewis Abbott, H&V Carpets, Valley Wholesale Carpets and Delta Carpets as well as Likewise-branded divisions in the north, north-east, Midlands, south and south-east and Scotland.

Sorry, we are not accepting comments on this article.