Flooring distributor Likewise has enjoyed a double-digit sales increase in the first four months of the year.
Group turnover has risen each month since the turn of the year, with sales 10.2% higher annually and by 11.2% allowing for the number of working days in 2024 and 2025.
If maintained, annual sales would top £170m.
The rise came after 7.4% increase in turnover in 2024 to £149.8m with underlying EBITDA rising from £7.9m to £8.8m. A final dividend of 0.25p follows the half-year payout of 0.125p.
‘Likewise will be significantly increasing market presence in retailers through numerous display stand initiatives and exciting plans for innovative new products in the second half of 2025,’ say Tony Brewer, Likewise chief executive.
‘The investment made to establish the comprehensive infrastructure, combined with the commitments over the next 12 months, can certainly take the group through £200m sales revenue and will benefit from further operational gearing. Therefore, the board is considering the next 3-5 year investments to provide the capacity to take advantage of the extensive opportunities before us.
‘As previously stated, the capital projects during 2025 in Plymouth and Newport will be funded from internal cash flow. The group has support from its principal bankers and continues to operate well within the facilities provided. The confidence is reflected in the board’s commitment to purchase capital equipment and trucks whenever possible which is more cost effective and continues to strengthen the group balance sheet.’
