Likewise Group enjoys strong sales surge

Detailing the continuation of its positive sales performance at the company's AGM, he said the figures demonstrate that Likewise, which has a base at Birmingham Business Park, is delivering its strategy of continuing to increase its market share.

With the benefit of substantial investment in sales teams, market presence and the logistics infrastructure, sales in the Likewise branded businesses have increased by 23.6% in the same period.

Mr Brewer said: “It is particularly pleasing that sales are developing across all geographical regions in both residential and commercial flooring. The order book is positive for commercial flooring as the group enters the typically busy summer period, particularly in the education sector.”

And, with such a positive first half of the year, the board is optimistic regarding the opportunities in the traditionally stronger third and fourth quarters and Likewise is on target to achieve its current market expectations.

The new high bay distribution centre in Glasgow is now operational, providing huge opportunities to expand the business in Scotland combined with significantly extra storage capacity for England and Wales.

This latest investment follows the previous expenditure to provide Likewise with capacity to reach its medium-term objectives. In the Likewise branded businesses, this is through a network of Glasgow, Newcastle, Leeds, Manchester, Sudbury, Sidcup, Newbury and Birmingham.

Mr Brewer said: “The acquisition in January 2022 of Valley Wholesale Carpets Ltd was an important strategic move for the group and Valley has continued to be a key contributor of profitability and positive cash flow.

“Further investment in Valley in product and sales resource, plus increasing the logistics capacity in Erith, Newport and particularly Derby, provides Valley with huge opportunities to increase its business development and geographical reach.”

He added: “The positive sales performance in the first half of 2023 is a result of the significant investment and development of the group in the last three years.

“The board would like to thank all our management and staff for their huge contribution to this performance combined with the support of our suppliers, customers and shareholders. We look forward to a positive second half and further progress of Likewise Group in future to achieve its medium-term objectives.”