Likewise Group plc (LON:LIKE), the fast growing and most progressive floor coverings distributor in the UK, has announced its unaudited interim results for the six months ended 30 June 2026 demonstrating strong revenue growth, continued strategic progress and improvement in margins notwithstanding cost pressures as a result of the war in the Middle East. Following continued strong trading into the second half, the Board now expects results for the year ending 31 December 2026 to be materially ahead of current market expectations.
Summary highlights
- Total Group revenue increased by 15.4% to £89.9 million (H1 2025: £77.9 million)
- Gross margin improvement of 0.8 percentage points to 32.1% in H1 2026
- Underlying EBITDA1 increased by 15.9% to £5.1 million
- Underlying profit from operations increased by 34.4% to £2.25 million
- Underlying profit before tax2 increased by 79.5% to £1.32 million
- Positive cash generation from Operating Activities of £4.11 million
- Interim Dividend of 0.165 pence per share to be paid on 13 November 2026 – a 20% increase on H1 2025
- Sales increased in Q3 by 29.1% with YTD sales up 20.7%
- Upscaling capacity to realise enhanced revenue sales target of £300 million
1 Underlying EBITDA is defined as profit before finance costs, tax, depreciation, amortisation, separately disclosed items and share-based payments.
2 Underlying profit before tax is defined as profit before amortisation, separately disclosed items and share based payments.
H1 2026 highlights
Likewise, the fast growing UK Flooring Distributor is very pleased to announce continued growth during the first six months of 2026.
Against a backdrop of continuing global and UK economic uncertainty, pricing pressure across a number of raw materials, compounded by a record hot late Spring and Summer, Total Group Revenue increased by 15.4% to £89.9 million.
Gross margin improved by 0.8 percentage points to 32.1%, reflecting the Group’s continued focus on pricing, purchasing and product mix. The Board is particularly encouraged by the combination of strong revenue growth and improving margins, demonstrating the benefits of the significant infrastructure investment made over recent years and the resulting operational gearing, which has contributed to a 79.5% increase in Underlying Profit Before Tax to £1.32 million during H1 2026.
The investment in the additional Distribution Hub specifically for palletised goods in Leeds in the Spring, allowed the Group to improve supply chain management and stock levels of key products, particularly for goods sourced from the Far East, to enhance the service offering for customers, whilst negating the impacts of any longer transit times due to the wider Middle East shipping disruption.
Operations
The Group is particularly focused on product development with our manufacturing partners, combined with extensive sales and marketing activities through our 109 sales executives. Providing our customers, principally independent flooring retailers and contractors with a comprehensive range of Point of Sale Displays.
Significant progress has been made in expanding the Group’s logistics infrastructure. As well as the new Leeds Distribution Hub, the extension to the Newport facility has also progressed as planned, providing additional distribution and cutting capacity for both the Likewise Wales and Valley operations with cutting operations having commenced in July.
Further cutting capacity has been developed at Derby, with a second cutting shift being recruited for the Autumn. Whilst Likewise Floors continues to benefit from the increased cutting capability and pallet capacity at Glasgow and the installation of the new five-metre cutting table at Leeds at the start of the year.
The Board remained focused on ensuring that the Group has the capacity and infrastructure required to support the continued sales growth, particularly given the momentum observed over the Period.
In August 2026, the Group completed the freehold acquisition of a new 60,000 sq. ft. High Bay Distribution Hub in Corby for a total consideration of £9.57 million.
The Corby facility represents a significant further investment in the Group’s logistics infrastructure and, once operational in January 2027, will materially increase storage, cutting and trunking capacity for the Likewise Floors Logistics Network.
In addition, the Board has recently agreed Heads of Terms for a freehold 47,000 sq. ft. High Bay Distribution Hub in Manchester. The new facility will enable the growth of the A&A business, whilst further increasing the cutting and distribution capacity in the North West for Likewise Floors.
Together with the Leeds investment, the Newport extension and increased cutting capacity at other locations, the Corby and Manchester facilities provide substantial additional headroom for the Group’s continued expansion as it heads towards its renewed £300 million target.
Dividend
The Board is pleased to increase the Interim Dividend by 20% to 0.165 pence which indicates a total Dividend of 0.495 pence for 2026. Consistent with previous statements the Board will maintain a progressive dividend policy broadly in line with earnings.
The interim dividend of 0.165 pence per ordinary share will be paid on 13 November 2026 to shareholders on the register at the close of business on 9 October 2026, the ex-dividend date being 8 October 2026.
Shareholders can also take advantage of the Dividend Reinvestment Plan by registering their intentions with the Company’s registrar by 23 October 2026.
Fundraise
In July and August 2026, the Group successfully completed a fundraising comprising a Placing, Subscription and Retail Offer, raising £32.5 million in total.
The Placing and Retail Offer were significantly oversubscribed, demonstrating strong support from both new and existing shareholders. The fundraising also saw continued participation from the Board and wider executive team, underlining their confidence in the Group’s strategy and long-term growth prospects, while demonstrating strong alignment with shareholders as the business enters its next phase of development.
The additional capital, together with the Group’s banking facilities and strong asset base, provides significant financial flexibility to accelerate investment in the business and capitalise on market opportunities, as the Group heads into its next phase of growth, and well poised to achieve its future aspirations of delivering revenues in excess of £300 million.
Outlook
Trading has been strong during the first half of 2026, and the Board remains confident that this positive momentum will continue through the busier Autumn trading period.
The sales trajectory has improved in Q3 with sales revenue increasing 29.1% in the period from 1 July 2026 to 25 September 2026.
Reflecting the strength of trading in the first half and the continued acceleration in the third quarter, the Board now expects underlying profit before tax for the year ending 31 December 2026 to be materially ahead of current market expectations at not less than £5.0 million (FY25: £3.1 million).
The Board is further encouraged by the Group’s established infrastructure, experienced management and sales teams, longstanding supplier relationships, and increasing operational capacity. These strengths provide an excellent platform from which to capitalise on the available market opportunities and deliver accelerated gains in market share.
The Group has now made strong progress towards its original objective of achieving £200 million of sales revenue, which will be in reach in the current year based on current performance. The additional investment in logistics capacity, supported by the recent fundraising, provides the flexibility to pursue the Group’s longer-term ambition of developing a substantially larger business, with the capacity and infrastructure to progress towards £300 million of revenue and beyond.
The Board remains focused on improving operating margins as volumes increase, allowing the Group to generate greater profitability and continue investing in people, infrastructure and service capabilities.
Tony Brewer, Chief Executive of Likewise Group plc, said:
“The Group has performed strongly throughout the first half and then accelerated into the summer and early Autumn. As a result, we now expect to deliver results for the full year materially ahead of market expectations.
This is a result of the extensive product development, sales and marketing activities over the last few years, supported by the enlarged logistics network.
We thank all our management and staff for their contribution combined with the support from suppliers and customers.
We also very much appreciate the engagement of existing and new shareholders in our recent fundraise which creates a really strong position for the Group to take advantage of the many opportunities before us in the UK flooring market.
Given the recent trend and the investments in Newport, Derby, Corby and Manchester, we are even more optimistic regarding the future of the Group to the benefit of all stakeholders.
Many thanks to everyone involved in Likewise.”
