Likewise results drive new ambitions
October 2, 2023
Fast growing UK floor coverings distributor the Likewise Group says it's focussed on creating a much larger business than was originally planned following its latest positive results.
In its interim results for the six months ended 30 June 2023, the group said total sales were up 17.3% to 66.6 million while the Likewise branded sales were up 23.3%.
Looking beyond the first half, Likewise said that “August was a record month for sales revenue which provides confidence entering the traditionally busy Autumn period.”
Adjusted profit before tax for the first six months was £0.7 million compared to £1.9 million for this time last year, principally impacted as expected by the accelerated investment in the business.
In a statement to shareholders, Tony Brewer, Chief Executive of Likewise Group plc, said: “The strong increases in Group revenue over the past four years demonstrates an exponential gain in market share and the ongoing enlargement of logistics and sales infrastructure will facilitate the continuation of market share progress.
"We have so many opportunities before us as we continue to enlarge the Group’s infrastructure which will create additional sales and increased profitability. With the original targets before us, the Group can now focus on creating a much larger business than previously anticipated,” he added.
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