Likewise, the UK’s fast-growing floor coverings distributor, has announced a significant milestone, achieving over £150 million in annual sales during 2024. This reflects a 7.5% year-on-year revenue increase, with Q4 sales showing a particularly strong performance, climbing by more than 10%. The company’s sustained growth highlights its position as a key player in the market, with ambitious plans for further expansion in 2025.
After four years of enhancing its sales and operational infrastructure, Likewise has reached a pivotal stage in its development. According to CEO Tony Brewer, the second half of 2024 marked a new level of performance for the company, bolstered by the successful launch of new products in Q4. Brewer expressed confidence in the Group’s trajectory, with additional product launches scheduled for the first half of 2025 expected to sustain this upward momentum.
A cornerstone of Likewise’s growth has been its robust logistics network, carefully built over recent years. The company successfully processed and delivered increased volumes in 2024, demonstrating the efficiency of its infrastructure. Plans to further enhance capacity in Glasgow, Derby, and Newport in 2025 will expand processing capabilities by approximately 35%, ensuring readiness for future demand.
Additionally, the company’s sales force grew by 14 recruits in 2024, bringing the total to 94 sales executives. This expanding team underscores Likewise’s commitment to driving sales and fostering customer relationships across its growing portfolio.
As part of its strategy to enhance shareholder value, Likewise announced a share buyback programme, allowing the company to repurchase ordinary shares using up to £200,000 from existing cash reserves. This move reflects management’s confidence in the business and aims to create further value for investors.
Likewise continues to demonstrate strong growth underpinned by operational excellence and strategic investments, positioning itself for long-term success in the floor coverings market.
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.
