Last checked at 1 Dec 2022 07:00
1 December 2022
Likewise Group plc
("Likewise", the "Company" or the "Group")
Trading update
Likewise Group plc (AIM:LIKE), the fast growing UK floor coverings distributor, is holding a Presentation to a small group of investors at its Birmingham Distribution Hub this morning.
In order to keep the market fully informed, the Group is pleased to announce that following like-for-like sales increases of 39.0% Q1, 18.4% Q2 and 21.8% Q3, October and November showed an increase of 27.7%.
Total sales (including the acquisitions of Valley Wholesale Carpets and Delta Carpets) increased by 108.2% in October and November making the year-to-date increase 103.9%.
Notwithstanding challenging market conditions this keeps the Group very much on course to achieve its medium-term objectives.
As previously stated, due to planned strategic investment and inflationary costs, profitability will remain in line with current market expectations.
Tony Brewer, Chief Executive of Likewise Group plc, said:
"The sales development is really encouraging and we thank all of our management, staff, suppliers and customers for their contribution. The Board is conscious of securing an appropriate return on the extensive investment and producing the subsequent profitability in the medium term for the benefit of all stakeholders."
For further information, please contact:
Likewise Group plc Tony Brewer, Chief Executive Roy Povey, Chief Financial Officer | Tel: 0121 817 2900 |
Zeus (Nominated Adviser & Joint Broker) Jordan Warburton / David Foreman / James Edis (Investment Banking) Dominic King (Corporate Broking)
| Tel: 0203 829 5000 |
Ravenscroft Consultancy & Listing Services Limited (Joint Broker) Semelia Hamon (Corporate Finance) | Tel: 01481 732 746 |
Novella Communications (Financial PR) Claire de Groot / Tim Robertson | Tel: 0203 151 7008 |