Significant investment in property, logistics capacity and sales staff has helped drive Likewise Group plc to a sales revenue increase of 103.9% to £124.4 million in the year to 31 December 2022.

Likewise has reported that Valley Wholesale Carpets Ltd, acquired in January 2022, has performed to original expectations in a challenging market and management is therefore very pleased with the contribution from Valley to sales and profitability.

The Valley logistics network, with its main distribution hub in Erith, is now enhanced by extra storage and cutting capacity in Derby in addition to the previously unused centre in Newport commencing operations in November 2022.

Likewise chief executive Tony Brewer said: “The group has made significant progress in the last two years through investment in the infrastructure with new operations being established in Leeds, Newcastle, Birmingham and Newbury.

“Sidcup will become operational during January and Glasgow in the second quarter of 2023. Hopefully negotiations for a new development to relocate A&A in Manchester will be concluded shortly.

“In conjunction with the investment in logistics capacity, the group has also made significant progress in enlarging the sales team and increased point-of-sale displays to expand and create a much greater market presence.

“As previously stated, the board and operational management are very focused on delivering the appropriate return on this investment to both secure additional profitability and importantly further investment to accelerate future growth.”

He added: “The group is on target to achieve the current market expectations and is confident in reaching its medium-term objectives.

“We would like to thank our management, staff, suppliers, customers and shareholders for their ongoing support and contribution to what has been achieved to date and look forward to their involvement in the group’s future success.”

Likewise Group includes Likewise Rugs & Matting, Floors by Lewis Abbott, H&V Carpets, Valley Wholesale Carpets and Delta Carpets as well as Likewise-branded divisions in the north, north-east, Midlands, south and south-east and Scotland.

Ends (318 words)

Issued on behalf of Likewise Group plc, Unit 4, Radial Park, Birmingham Business Park, Solihull Parkway, Birmingham B37 7YN

For further information, please contact:

Andy Skinner, at ASAP PR – 07990 978257

Editors’ Notes 

Likewise Group plc is a distributor of floorcoverings and mattings established with the intention of consolidating the domestic and commercial floorcoverings markets to become one of the UK’s largest distributors in this sector. The UK floor and wall covering market is worth circa £3.2 billion and is expected to increase at a compound annual growth rate of 2.1% from 2019 to 2024 to reach £3.5 billion, split between the residential, commercial, public and industrial markets. Likewise Group’s strategy is to focus on the residential and commercial sectors.

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