Flooring distributor Likewise has seen sales increase by almost a fifth, while branded sales have jumped by more.
Sales in the first quarter increased by 19.7% while Likewise-branded sales increased by 25.7%.
The group says its investment in logistics and displays is now delivering results.
‘In January 2021 the 80,000sqft distribution hub was opened in Leeds, followed in H2 2021 with establishing the 57,000sqft high bay Birmingham distribution hub, which became operational in 2022. In January 2022 the Newcastle business moved into a much improved logistics centre. The Newbury logistics centre opened in July 2022 enabling the group to develop business with customers in the south of England.
The logistics infrastructure continues to develop with the Likewise London business and Floors by Lewis Abbott completing their move to Sidcup in January 2023, providing much improved service to customers in the south-east of England. The group now has possession of the 47,000sqf high bay distribution centre in Glasgow. Racking systems and a cutting table are currently being installed and this facility will become operational during Spring 2023 which will allow the business in Scotland to significantly enlarge and also provide additional stocking capacity to support the Likewise logistics network in England and Wales.
Focus continues to be on relocating A&A in Manchester. Whilst this has been ongoing for some time we are optimistic of an imminent solution. This is the final piece in this stage of the group’s logistics development.
‘We stated in January that a key focus for this year was to achieve an improving return on the extensive investment in sales representatives and POS displays. Whilst we are still early on this journey with many opportunities before us there is no doubt that significant progress has been made with a 25.7% increase in Likewise branded revenue. The group will continue to take a proactive approach to further sales and marketing investment in specific geographical locations. Whilst being very much focused on organic growth, the group will consider further acquisitions if they provide the appropriate strategic rationale.’