Flooring distribution specialist Likewise Group has achieved a significant milestone, surpassing £150m in annual sales for the first time. This accomplishment reflects the company’s strategic advancements and positions it for further growth as it builds momentum into 2025.
Likewise Group reported sales of £150.8m for the year ending 31 December 2024, marking a 7.5% increase compared to the previous year. Chief Executive Tony Brewer credited this achievement to the company’s four-year investment in developing its sales and operational infrastructure. He noted that the second half of 2024 saw the business reach a new level of performance, bolstered by strategic product launches in the final quarter. Brewer also hinted at additional product innovations slated for early 2025, which are expected to sustain the company’s upward trajectory.
Brewer highlighted the strength of the company’s team across product development, sales, marketing, and logistics, praising their collective efforts in seizing the growing opportunities in the UK flooring market. He expressed confidence in Likewise’s trajectory, underscoring the group’s commitment to becoming a leading force in the sector.
The group’s growth trajectory was particularly strong in the fourth quarter of 2024, where sales rose by 10.2%, suggesting an annualised revenue run rate approaching £175m. This robust performance was supported by the logistics infrastructure established over the past four years, which has proven capable of handling increasing volumes. To build on this success, Likewise plans to expand its processing capacity in Glasgow, Derby, and Newport in 2025, targeting a 35% increase.
The group is also advancing its strategic footprint with the acquisition of a freehold logistics centre near Plymouth, funded from existing cash reserves. This new site will strengthen Likewise Floors and Valley’s reach in the South West of England. In Newport, South Wales, the company has applied for planning permission to expand its distribution centre, with construction set to conclude by the end of 2025.
Additionally, the company has announced a share buyback programme as part of its commitment to delivering value to shareholders. Brewer extended gratitude to the company’s employees, suppliers, customers, and investors, whose support has been instrumental in Likewise’s success.
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.
