REG - Likewise Group PLC - Trading Update

LikewiseAnnouncement

07/04/2025 07:00

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RNS Number : 7572D  Likewise Group PLC  07 April 2025

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."

 For further information, please contact:
 Likewise Group plc                                                   Tel: +44 (0) 121 817 2900

 Tony Brewer, Chief Executive
 Zeus (Nominated Adviser and Joint Broker)                            Tel: +44 (0) 20 3829 5000

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

 Dominic King / Fraser Marshall (Corporate Broking)
 Ravenscroft (Joint Broker)                                           Tel: +44 (0) 1481 735 340

 Semelia Hamon (Corporate Finance)

 

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