Sales double at Likewise
June 30, 2022
Sales at ambitious flooring distributor Likewise have more than doubled and the company promises more growth to come.
"Whilst the general economic position and weakness in consumer spending is well publicised, sales revenue in the 6 months to 30 June 2022 will be £57.8 million, an increase of 106.1% over the corresponding period last year," the company said at its AGM today.
The acquisition of Valley Wholesale Carpets in January 2022 of Delta Carpets in April 2022 have been major contributors to the revenue hike but the company was keen to point out that organic growth for the 6-month period was up 27.3%.
The directors added; "This activity will be further accelerated in Q3 2022 with extensive new product launches and additional point of sale displays planned to take advantage of the traditionally busier trading period in the Autumn."
The Likewise distribution network continues to be developed. Construction is underway in Glasgow for a new 1.86 million cubic feet Distribution Centre which will be operational in Q1 2023. The extension to the Derby Freehold Distribution Centre has commenced and the currently unused Newport Facility will be operational during Q3 2022 to allow Valley to supply new customers in South West England and South Wales.
All of these developments culminate in enlarging the logistics capacity of Likewise to over 15 million cubic feet compared to 8 million cubic feet in 2021 and provide the company with a comprehensive geographic reach and capacity.
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