Likewise Group Regulatory News (LIKE)

7 April 2025

Likewise Group plc

("Likewise", the "Company" or the "Group")

Trading update

Likewise Group plc (AIM:LIKE), the fast growing UK flooring distributor, is pleased to announce a particularly positive start to the year with Gross Sales Revenue in Q1 2025 increasing by 10.7% against the corresponding period last year. Sales in the Likewise Branded businesses have increased by 14.6%.

The sales progression has continued from the strong growth last Autumn where Group Sales Revenue in Q4 2024 increased by 10.2% against the previous year.

This growth is the result of the strategic decisions and investment the Group has made over recent years to establish a comprehensive Logistics Infrastructure to support the extensive Sales and Marketing activities, which will continue throughout 2025.

There are many initiatives through both Likewise and Valley to meaningfully accelerate the Group's presence and subsequently continue to gain market share over the coming months, particularly through increased Point of Sale Displays and new product initiatives.

The recently purchased freehold logistics facility in Plymouth will be operational as anticipated at the beginning of May. Additional cutting capacity will be created during April within the Glasgow Distribution Hub in order to facilitate increasing volumes for the Likewise Network throughout 2025. Planning Permission to extend the freehold site in Newport South Wales is progressing and when the construction is completed will materially increase the Group's processing and cutting capacity from early 2026.

The start of 2025 has provided a solid platform for the Group to achieve its corporate objectives for the year ahead.

Whilst January and February are traditionally lower trading months, March and the forthcoming months will benefit from the operational gearing effect which was also successfully delivered in H2 2024. This should take the Group to a higher level of profitability as reflected in current market forecasts for 2025. 

Tony Brewer, Chief Executive of Likewise, said:

"Following a particularly positive Autumn 2024, it is really encouraging that Q1 2025 has continued at pace.

This gives the Board every confidence in achieving this year's objectives and more importantly significant further progress towards our medium term aspirations.

We very much appreciate the contribution from all employees and the support of suppliers, customers and all stakeholders as we continue this exciting journey."