Likewise Group targets £200m revenue after infrastructure investments
Fast-growing flooring distributor Likewise Group is setting its sights on reaching £200m in revenue within the next few years, following a series of strategic property and logistics investments.
In its results for the year ended 31 December 2024, the group reported a 7.4% increase in turnover to £149.8m. Adjusted profit before tax was £2m, compared to £2.3m in 2023, reflecting significant investment, particularly during the first half of the year.
The group now operates from 12 distribution and logistics centres with a combined capacity of around 15 million cubic feet. It owns the freehold for five of these sites, valued at £23.5m, with just £2.3m of fixed debt secured against one property.
Since 2021, Likewise has expanded its footprint with new distribution hubs in Birmingham, Leeds, and Glasgow, along with logistics centres in London, Newbury, Manchester, and Newcastle. In 2025, the group added a logistics centre in Plymouth, completing its nationwide coverage across the UK.
April 2025 saw the Glasgow facility double its cutting and processing capacity, accelerating growth in Scotland while also supporting operations in England and Wales.
Its CEO, Tony Brewer, said that growing revenue and property investments have filled the board with confidence to achieve the current market forecasts for the full year of 2025, with sales revenue progressing quickly towards £200m over the next few years.
Brewer said: “The investment made to establish the comprehensive infrastructure, combined with the commitments over the next 12 months, can certainly take the group through £200m sales revenue and will benefit from further operational gearing.
“Therefore the Board is considering the next 3-5 year investments to provide the capacity to take advantage of the extensive opportunities before us.
“As previously stated, the capital projects during 2025 in Plymouth and Newport will be funded from internal cash flow. The group has support from its principal bankers and continues to operate well within the facilities provided.
“The confidence is reflected in the board’s commitment to purchase capital equipment and trucks whenever possible which is more cost effective and continues to strengthen the group balance sheet.”
Following the successful implementation earlier in the year, Likewise will launch a further share buyback programme today of up to £250k.
Brewer concluded: “The group really has made significant progress over the last four years. The logistics infrastructure has been transformed to that which originally initiated the business in 2020. The quality of the management, sales teams and staff throughout the business is extremely important to the future aspirations of the group.
“We have had a clear focus on creating the best flooring distribution business, and while only part way along that journey, we have certainly created the structure to achieve our current goals. The next one, three and five years are really exciting as we are absolutely committed to investing in our people, infrastructure and market presence to deliver that ambition”.
