A wholesaler specialising in floor coverings has unveiled robust financial results and is on track to achieve its medium-term goal of annual revenues of £200 million. Likewise Group, based in Birmingham, reported a 12.9% increase in sales, reaching £139.5 million in 2023.
After investing to meet its medium-term objectives, the company achieved an underlying profit before tax of £2.3 million. Additionally, the financial report highlights an 8.7% rise in group sales revenue and a 15.3% growth in sales for Likewise branded businesses during the first four months of 2024 compared to the previous year.
The company marked a significant milestone by receiving orders amounting to £1 million in a single day for the first time. Chief executive Tony Brewer commented, “Likewise Group plc has made significant progress in 2023, which has continued into the first four months of 2024. Group sales revenue to the end of April increased by 8.7%, and sales in Likewise branded businesses rose by 15.3% compared to the previous year. The group continues to trade in line with current market expectations.”
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.
