REG - Likewise Group PLC - Trading and Operations Update

LikewiseAnnouncement

30/05/2023 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230530:nRSd8924Aa&default-theme=true

RNS Number : 8924A  Likewise Group PLC  30 May 2023

30 May 2023

Likewise Group plc

 

("Likewise" or the "Group")

 

Trading and Operations Update

 

 

Likewise Group plc (AIM:LIKE), the fast growing UK floor coverings
distributor, is pleased to announce that despite certain adverse comment
regarding the New Build and Refurbishment Markets, that its businesses in
both Residential and Commercial Flooring have continued to increase following
the last announcement on 16 May 2023 and the Group continues to trade in line
with current market expectations.

 

Year to date Group Revenue has now increased by 17.7% against the
corresponding period last year and the Likewise Branded Businesses by 24.5%
due to the ongoing investment in Sales and Marketing continuing to accelerate
gains in market share.

 

The new High Bay Distribution Centre in Glasgow will commence operations
today. This will provide significant extra storage and processing capacity for
both Scotland and into the Likewise Logistics Network for England and
Wales.

 

Tony Brewer and Andrew Simpson, the founding shareholders, along with the
Board, Executive Board, Management Teams and all Employees are absolutely
committed to developing Likewise to achieve its Medium Term Objective of
progressing through £200 million Sales Revenue.

 

The next Trading Update will be provided at the Annual General Meeting on 29
June 2023.

 

For further information, please contact:

 Likewise Group plc                                                      Tel: 0121 817 2900

 Tony Brewer, Chief Executive

 Roy Povey, Chief Financial Officer
 Zeus (Nominated Adviser & Joint Broker)                                 Tel: 0203 829 5000

 Jordan Warburton / David Foreman / James Edis (Investment Banking)

 Dominic King (Corporate Broking)

 Ravenscroft Consultancy & Listing Services Limited (Joint Broker)       Tel: 01481 732746

 Semelia Hamon (Corporate Finance)
 Novella Communications (Financial PR)                                   Tel: 0203 151 7008

 Claire de Groot / Tim Robertson

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTKZGZKMLFGFZM