Birmingham-based Likewise Group, a leading distributor of floor coverings, has achieved remarkable growth, reporting a record-breaking £150.8 million in gross sales for 2024, a 7.5% increase from the previous year. With bold expansion plans, strategic investments, and strong operational performance, the company is positioning itself as a major force in the UK flooring industry.
Likewise Group is strengthening its logistics network with the acquisition of a freehold centre near Plymouth, funded from existing cash reserves. This strategic addition will enhance coverage in the South West, completing its ability to efficiently serve customers nationwide. Plans to expand facilities in Glasgow, Derby, and Newport aim to boost processing capacity by 35% by the end of 2025. A planning application is also underway for extending the Newport distribution centre, further solidifying its presence in South Wales.
The group has announced a £200,000 share buyback programme, reflecting confidence in its financial position and future performance. Additionally, its commitment to growth is evident in new product launches, which are driving demand and setting the stage for continued momentum into 2025.
Chief Executive Tony Brewer emphasised the transformative efforts of the past four years, highlighting that the group has reached a new level of operational excellence. He credited the outstanding teams across product, sales, marketing, and logistics for enabling the group to seize significant opportunities. Brewer also noted that Likewise Floors, a key division within the group, saw an impressive 15.5% sales increase in 2024.
Sales during the fourth quarter rose by 10.2%, a strong indication that Likewise Group is on track to achieve annualised sales of £175 million. With solid infrastructure, ambitious growth plans, and a proven track record of success, the group is well-positioned to capitalise on its strengths and deliver substantial value to investors.
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.
