Sales rise to £140m at flooring distributor

Flooring distributor Likewise Group plc has reported a growth in full year sales as it continues to make “significant” year-on-year progress.

According to its Final Results for the year ended 31 December 2023, total sales rose 12.9% to £139.5m from £123.6m in 2022.

Underlying EBITDA resulted at £7.9m, up from £6.6m, while following further investment in infrastructure, underlying pre-tax profit stood at £2.32m, slightly down from £2.56m.

During the period 11 Distribution and Logistics Centres were created with total capacity at c.15 million cubic feet, with the Glasgow Distribution Hub, opened in the Spring of 2023, now making a “meaningful contribution” with regards to Storage, Picking and Cutting into the Likewise Logistics Network.

“The Group has again made significant progress in 2023, which has continued into the first four months of 2024, with Group Sales to the end of April increasing by 8.7% and Sales in Likewise Branded businesses increasing by 15.3% compared with the prior year,” the company said. “The Group continues to trade in line with current market expectations.”

Tony Brewer, Chief Executive of Likewise Group plc, added: “The Group has made significant progress in the last three years. The Board thanks the Management, Sales Teams and all Staff for their tremendous contribution to developing the Group and what has been achieved in such a short time.

“Despite challenging market conditions, 2024 has started positively and we have every confidence of a successful year and most importantly another major step towards our medium term objectives.

“The Group would also like to thank all our Suppliers, Customers and Shareholders for their support over the last few years and look forward to further strengthen those relationships to our mutual benefit.”

Save this article for later

You can revisit this article if you save it as favourite news!

Leave a Comment