Positive trend as Likewise doubles sales
September 26, 2022
Fast-growing flooring group Likewise reports a positive trend in its trading outlook after more than doubling its sales in the first half of 2022.
Reporting its interim results for the first half of 2022, Likewise sales revenue increased by 108% to £58.4 million with organic growth of 27%.
Margins also increased a little from 29.4% to 29.9% to reach figure for profit before tax of £1.9 million – up 77% on 2021.
"The positive sales revenue trend has continued through July, August and September which positions the Group well for the traditionally busy Autumn trading in Q4," says Likewise.
Tony Brewer, Chief Executive of Likewise Group plc, commented: "Likewise has made considerable progress in the last two years. The acquisition of Valley was a particularly important step. The increase in Net Assets and subsequently solid Balance Sheet provides the Group with strong foundations for the future.
"With the extensive logistics, sales and marketing investment we are confident in progressively building a substantial and profitable floor covering distribution business."
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