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Sales development ‘encouraging’ at flooring group

Floorcoverings distributor Likewise Group plc has reported continued sales growth as it remains on course to meet its medium-term objectives.

According to its latest trading update and following like-for-like sales increases of 39.0% Q1, 18.4% Q2 and 21.8% Q3, October and November showed an increase of 27.7%.

Total sales (including the acquisitions of Valley Wholesale Carpets and Delta Carpets) increased by 108.2% in October and November making the year-to-date increase 103.9%.

As previously stated, due to planned strategic investment and inflationary costs, profitability will “remain in line with current market expectations”.

Tony Brewer, Chief Executive of Likewise Group plc, said: “The sales development is really encouraging and we thank all of our management, staff, suppliers and customers for their contribution. The Board is conscious of securing an appropriate return on the extensive investment and producing the subsequent profitability in the medium term for the benefit of all stakeholders.”

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