Likewise Group PLC (LON:LIKE) is a distributor of floorcoverings and matting and has the opportunity to consolidate the domestic and commercial floorcovering markets to become one of the UK’s largest distributors in this sector.
Currently, the UK domestic flooring market is worth C:£2 billion. Although there are a number of larger industry competitors, the market remains fragmented with small local and regional companies accounting for c.50% of the UK market. Likewise PLC believes that, through a number of industry and macro factors, the market will polarise towards larger competitors, and that the Likewise Group can be well positioned to benefit from this trend.
Likewise PLC intends to utilise the expertise and industry knowledge of the Board, Executive Board and Advisors to develop an alternative to larger industry competitors. Management believe this can be achieved through a mixture of organic growth, operational leverage and where appropriate acquisitions.
