Express & Star

Likewise to report continuing sales growth in 2024

UK floor coverings distributor Likewise Group has revealed continuing growth in a sales update in advance of its AGM tomorrow.

Likewise Group

The update to shareholders at the AGM by chief executive Tony Brewer will hear Likewise – headquartered in Birmingham – has continued to make further positive progress in the first six months of 2024 as the group continues to gain market share.

Overall sales revenue increased by 8.5 per cent in the first six months to June 18, with sales in the Likewise branded businesses increasing by 14.6%, including a 19.7% sales increase for Likewise Floors.

Mr Brewer said: “While market conditions remain challenging, Likewise is confident of further overall sales increases in the traditionally busier second half of the year.”

He said 13 new sales executives recruited since November 2023 were all making good progress, but their potential is currently unfulfilled while the group incurs ongoing investment and additional costs.

“Likewise Group is committed to investing in sales and marketing, with an improving return anticipated in the coming years as we recognise there are many opportunities before us in the UK flooring market," he added. “Furthermore, the board believes this will ultimately create a much larger business in future years.”

Mr Brewer added that the total sales team of 94 sales executives is making a particularly important contribution to the overall performance in both residential and commercial flooring.

Likewise Group has developed a comprehensive logistics infrastructure through its 11 distribution and logistics centres.

Mr Brewer said this had created additional capacity to process and deliver significantly greater volumes to achieve the group’s medium term objectives.

A final dividend of 0.25 pence making a total dividend of 0.35 pence for 2023 is recommended by the board at the AGM.

Mr Brewer said: “The board would like to thank all management and staff, customers, suppliers and shareholders for their ongoing contribution and support to the development of Likewise Group.”

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