Likewise has seen Q1 double-digit sales growth continue into April. It comes as it is eyeing a ‘meaningfully increase’ in its logistics capacity.
The flooring distributor saw sales climb by 15.2% to £44.2m in the first three months of the year, with April ‘showing a similar positive trend.
‘This represents significant increases in market share and notwithstanding the worldwide uncertainties, provides confidence in the group achieving its future objectives,’ it says.
Its extension at Newport is to be operational – as planned – in July: providing increased cutting capacity and storage.
The group has dipped into its bank borrowing to invest £3m in a second Leeds distribution hub, allowing it to ‘streamline the supply chain management of palletised goods from the Far East and Europe, allowing the planning of incoming containers to be far more efficient and also release capacity at other centres.’
The group is also considering other freehold projects ‘to meaningfully increase the group’s logistics capacity which would allow Likewise Floors and Valley Wholesale Carpets the additional capacity to service the UK market demand for our suppliers and customers.’
