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Likewise Group celebrates first £1 million order intake in one day as annual sales soar

Floor coverings wholesaler Likewise Group is celebrating taking orders worth £1 million on one day for the first time.

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Likewise Group plc announced the news as the Birmingham-based business reported a 12.9 per cent sales increase to £139.5 million in the financial year to 31 December 2023.

Underlying profit before tax, following continued investment by the group to achieve its medium term objectives, was £2.3 million.

Subject to shareholder approval at the AGM, a proposed final dividend of 0.25p will help deliver a total dividend of 0.35p in 2023, up 75 per cent on 2022.

Chief executive Tony Brewer said: “Likewise Group plc has again made significant progress in 2023, which has continued into the first four months of 2024, with group sales revenue to the end of April increasing by 8.7 per cent and sales in Likewise branded businesses increasing by 15.3 per cent compared with the prior year.

“The group continues to trade in line with current market expectations.”

He said the current turnover of £139.5 million was highly encouraging but with significant investment in logistics and sale providing strong foundations to develop the business, Likewise has its sights set on exceeding £200 million in the medium term.

Likewise now has 11 distribution and logistics centres created with total capacity at 15 million cubic feet, 80 suppliers across key flooring products, more than 500 employees, with a significant majority with long-standing flooring experience and over 5,000 customers, principally independent flooring retailers and contractors.

Likewise Midlands business has made tremendous progress over the last two years and is now very much established as a principal distributor of residential and commercial flooring throughout the region, he added.

Mr Brewer concluded: “Likewise Group has made significant progress in the last three years. The board thanks management, sales teams and all staff for their tremendous contribution to developing the group and what has been achieved in such a short time.

“Despite challenging market conditions, 2024 has started positively and we have every confidence of another successful year and most importantly another major step towards our medium-term objectives.

“Likewise would also like to thank all our suppliers, customers and shareholders for their support over the last few years and look forward to further strengthen those relationships to our mutual benefit.”

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