Likewise steps up to new level
January 8, 2025
Fast growing UK floor coverings distributor, Likewise, says revenues were up 7.5% during 2024 to reach the "important milestone" of sales in excess of £150m.
In the busy Q4 trading period, total sales were up over 10% the company said in a trading update to shareholders for the 12 months ended December 31.
- "Following four years of developing the Group’s Sales and Operational infrastructure we have stepped up to a new level of performance in H2 2024," said CEO Tony Brewer.
"With significant new product launches in Q4 and more planned for Q1 and 2 this year, the Group is well placed to continue the exponential sales increase into 2025," he added.
Likewise was ecouraged that its logistics network created over the last four years was able to process and deliver these increased volumes, notwithstanding the Group has plans to increase capacity in Glasgow, Derby and Newport during 2025 which will create a further c.35% processing capability.
The growth of the company is also marked by the headcount of 94 sales executives, following the recruitement of 14 new people appointed last year.
Likewise plc also announced the launch of a share buyback programme of ordinary shares of £0.01 each in the capital of the company up to a maximum aggregate consideration of £200,000. Under the programme, the company will, at appropriate times, seek to buy back its ordinary shares using the company's existing cash resources.
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