Flooring distributor Likewise is to boost its dividend to shareholders by a quarter.
The country’s second largest flooring distributor will pay shareholders 0.125p a share on 15 November.
The move comes after it completed the deferred payments of its acquisitions, with payments of £4.27m. Cash generation rose from £1.68m to £2.88m in the six months to 30 June.
Turnover rose by 6.2% to £70.7m, but pre-tax profits fell from £710,000 to £340,000 as the group blamed higher interest costs. Underlying profits was steady at £1.21m (£1.19m). Gross margin rose from 30% to 31.1%.
It says its existing logistics capability has the capacity to handle sales of £200m ‘and with limited investment can progress much further in 2026 and 2027.
‘With extensive sales and marketing initiatives throughout its businesses, the group looks forward to taking advantage of the traditionally busy Autumn trading period in Q4. However, the quantum of the upturn in Q4 remains very difficult to predict given the unprecedented widespread restructuring in the UK flooring industry.’