Sales boom by more than 100% at flooring giant
Floor coverings firm Likewise Group has seen a sales revenue increase of 103.9% to £124.4m in 2022.
The firm, which launched in January 2019 by former Headlam directors Tony Brewer and Andrew Simpson, includes other businesses such as Lewis Abbott, Factory Flooring, H&V Carpets, A&A, Valley Wholesale Carpets, and the recently acquired Delta Carpets.
Likewise has expanded its property capacity across the UK to drive growth with Valley Wholesale Carpets, which was acquired in January 2022, now enhanced by extra storage and cutting capacity at its Derby hub.
The Valley logistics network, with its main distribution hub in Erith, has also been added to by a previously unused centre in Newport commencing operations in November 2022.
The group’s new facility in Sidcup will become operational this month, as well as a centre in Glasgow in Q2. CEO Tony Brewer says the flooring firm is looking at negotiations to relate A&A to Manchester.
Brewer said: “The group has made significant progress in the last two years through investment in the infrastructure with new operations being established in Leeds, Newcastle, Birmingham and Newbury.
“In conjunction with the investment in logistics capacity, the group has also made significant progress in enlarging the sales team and increased point-of-sale displays to expand and create a much greater market presence.
“As previously stated, the board and operational management are very focused on delivering the appropriate return on this investment to both secure additional profitability and importantly further investment to accelerate future growth.
“The group is on target to achieve the current market expectations and is confident in reaching its medium-term objectives”.
