Floor covering wholesaler unveils strong set of results

A wholesaler specialising in floor coverings has unveiled a strong set of financial results and says it is on track to achieve its medium-term goal of annual revenues of £200m.

Likewise Group, headquartered in Birmingham, has revealed a 12.9% surge in sales, up to £139.5m in 2023.

Following investments to achieve its medium-term objectives, the company reported an underlying profit before tax of £2.3m.

Furthermore, the company’s financial report highlights an 8.7% increase in group sales revenue and a 15.3% uptick in sales for Likewise branded businesses during the first four months of 2024 compared to the previous year.

The company also experienced a milestone as it received orders amounting to £1m in a single day for the first time.

Chief executive Tony Brewer said: “Likewise Group plc has again made significant progress in 2023, which has continued into the first four months of 2024, with group sales revenue to the end of April increasing by 8.7% and sales in Likewise branded businesses increasing by 15.3% compared with the prior year. The group continues to trade in line with current market expectations.”