Likewise Group plc (LON:LIKE), the fast growing and progressive Flooring Distributor in the UK, has made the following updates:
Freehold Purchase
Likewise has acquired the freehold of a 2nd Distribution Hub in Leeds for £3.0 million, utilising its current banking facilities. This will streamline the Group’s supply chain management of Palletised goods from the Far East and Europe, allowing the planning of incoming containers to be far more efficient and also release capacity at our other Centres.
Trading Update
Total Group Revenue in the first 3 months to 31 March 2026 has increased to £44.2 million, up 15.2% against the corresponding period last year, with April month to date showing a similar positive trend. This represents significant increases in market share and notwithstanding the worldwide uncertainties, provides confidence in the Group achieving its future objectives.
The extension in Newport is on schedule to be operational as planned in July 2026. The additional storage and cutting will provide extra capacity and with the new investment in Leeds, will support the Group’s strategy of growing sales revenue towards £250 million.
The Board is also considering other Freehold projects to meaningfully increase the Group’s logistics capacity which would allow Likewise Floors and Valley Wholesale Carpets the additional capacity to service the UK market demand for our Suppliers and Customers.
The Group has increasing Net Assets further strengthening the Balance Sheet and the support from our principal bankers to make these Freehold investments. This demonstrates the confidence the Board and all stakeholders have in the significant growth potential in Sales and subsequent Profitability of Likewise Group.
Notice of Results
Final Results for the year ending 31 December 2025 will be announced on 28 April 2026.
