Flooring group weathers challenging year to post sales rise

Likewise Group, the fast growing floor coverings distributor, has weathered a challenging year to report continuing sales growth in the six months to 30 June 2023.

The board has announced the AIM-listed company will pay its maiden interim dividend of 0.1p on 17 November 2023.

Total sales revenue increased by 17.3% from £56.8m to £66.6m, including Likewise-branded sales growth of 23.3%. Adjusted underlying profit before tax of £0.7m (H1 2022 – £1.9m) has principally been affected by the board’s decision to accelerate investment in the business.

Likewise Group PLC (LON:LIKE) is a distributor of floorcoverings and matting and has the opportunity to consolidate the domestic and commercial floorcovering markets to become one of the UK’s largest distributors in this sector.

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