Flooring distributor Likewise is planning to float on the London Stock Exchange, and raise £10m in funds.
The group floated on The International Stock Exchange in Guernsey in January 2019. Now it wants to move its listing to the junior Alternative Investment Market (AIM). No date has been given for the proposed move.
It hopes to raise £10m by issuing new shares and says directors and senior managers will be taking part in the fundraising.
The group says that performance has continued to be ahead of internal budgets during the second quarter and it expects this to continue through the second half. It says that
Lockdown hit performance in the first half of 2020, with pre-tax losses rising from £2.7m to £3.27m for the year ended 31 December a sales rose from £30m to £47m, helped by £7m of sales from the purchase of A&A Carpets in February 2020.
The group has ‘consistently produce a monthly pre-tax profit since July 2020, which has increased progressively into 2021,’ it says.
