Flooring distributor Likewise says it is on course to meet market expectations after a record November.
The group saw £14m of sales in the month, a jump of 13.3%.
Tony Brewer, Likewise Group chief executive says the record performance had been achieved despite challenging market conditions, which were undoubtedly adversely impacted by macro-economic headwinds.
‘The growth of Likewise Group plc has been achieved through the huge contribution from our management and staff, plus the support from suppliers, customers and shareholders. We thank all our stakeholders and wish them a Happy Christmas and a prosperous New Year. The development of the group reflects the excellent relationship with suppliers and, very importantly, the presence in independent retailers and flooring contractors through the experienced sales teams,’ he says.
‘Likewise has undoubtedly increased market share during 2023 and with capacity in the logistics network developed over the last three years can look forward to further growth in 2024 towards the group’s medium term ambition of £200m sales revenue.’
Following successful development in South Wales, Valley Wholesale Carpets is expanding into Bristol and South West England. Further capacity has been created in Derby which will allow Valley to increase its processing volumes in 2024.
A&A, acquired in 2020, has developed its residential business and is now also investing in additional sales management to expand into commercial flooring. The group is near to agreement to relocate A&A into new premises and is progressively benefiting from the Likewise logistics network.
Likewise has established a presence in South Wales by recruiting a team in both residential and commercial flooring to operate from the previously under-utilised distribution centre in Newport with further support of the Likewise product portfolio.
The Glasgow distribution hub is now established, and Likewise operational procedures are being implemented to allow Likewise Scotland to be a key component to the group’s logistics network, while also providing considerably more capacity to increase business in Scotland.
Further investment has been made to develop the management and sales teams in Likewise South East and Likewise London to increase significantly market penetration in these areas.
Likewise South will increase its reach by investing in additional sales resources for Bristol and South West England.
The group says the investment in the Delta, H&V and Floors by Lewis Abbott brands during 2023 has ‘provided limited return currently but is poised to improve market presence and return on investment during 2024.’
