Likewise Group on target to double sales in 2022
Likewise Group plc, the fast growing UK floor coverings distributor, has increased by sales to date in 2022 by over 100%, a group of investors will hear this morning (Thursday 1 December).
At a presentation at the group’s UK headquarters at Birmingham Business Park, chief executive Tony Brewer will tell them that Likewise has achieved like-for-like sales increases of 39% in Q1 2022, 18.4% in Q2 and 21.8% in Q3.
October and November have shown an increase of 27.7%. Total sales increased by 108.2% in October and November making the year-to-date increase 103.9%.
Mr Brewer 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.
“Notwithstanding challenging market conditions this keeps the group very much on course to achieve its medium-term objectives.”
As previously stated, due to planned strategic investment and inflationary costs, profitability will remain in line with current market expectations.
Likewise Group includes William Armes, 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.
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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
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.