Flooring distributor Likewise has moved to reassure shareholders that trading continues to be positive.
On 16 May it told shareholders that sales for the first four months of 2023 were 17.8% higher. In the 30 May update it said turnover was up 17.7%. Sales of Likewise branded products were 24.5% higher, compared with the previous rise of 23.5%.
The group’s 47,000sqft Glasgow distribution centre is now operational, adding 1.7m cu ft of storage space, increasing the total to about 15m cu ft.
‘We continued to trade in line with current market expectations due to the ongoing investment in sales and marketing which is continuing to accelerate gains in market share. We are all committed to developing Likewise towards its medium-term objective of breaking through the £200m sales level,’ says Tony Brewer, Likewise chief executive.
Sales in 2022 were £123.6m, and the group says residential and contract sales have increased.
