Likewise Group plc (LON:LIKE), the fast growing UK flooring distributor, has announced the completion to purchase a freehold Logistics Centre in Ivybridge near Plymouth. The consideration of £1.2 million was funded from internal cash. This increases the Group’s freehold property portfolio to £23.3 million.
The new Logistics Centre will both establish Likewise South West and also enable Valley Wholesale Carpets to develop business with customers in Devon and Cornwall. Very importantly, this completes Likewise Group’s comprehensive geographical coverage of the UK.
Following a successful 2024, Likewise has made a positive start to 2025, with total sales revenue increasing by 8.4%1 in January and Likewise Branded businesses increasing by 13.6%.
The Group has extensive product launches planned for Q1 and Q2, supported by a significant number of Point of Sale and Display Stand activities to materially increase market presence in independent flooring retailers and contractors.
The enhanced logistics infrastructure combined with the substantial Sales and Marketing initiatives will allow the Group to take full advantage of the many opportunities presented in the UK flooring industry.
Tony Brewer, Chief Executive of Likewise Group, said:
“The investment in Plymouth completes the Group’s geographical reach across the UK and further strengthens our Balance Sheet.
The momentum developed in H2 2024 has continued in the early part of 2025 providing the Group with confidence in an exciting future and further progress towards our medium term objectives”
1 this is in addition to the increase of 5.1% for the Group and 14.1% for Likewise Branded businesses between January 2023 and January 2024
