Sales at Likewise more than doubled in 2022
UK floor covering distributor Likewise Group plc has revealed sales soared during 2022, with turnover up to £123.6 million from £60.5 million in 2021.
The result, for the year ending December 31, 2022, was, the company said, a combination of organic growth and the contribution of Valley Wholesale Carpets Ltd and Delta Carpets Ltd, acquired during the year.
Chief executive Tony Brewer said the result was driven by continued investment into sales and marketing initiatives and an increase in distribution capacity.
Underlying profit before tax was up 84.8% from £1.38 million in 2021 to £2.56 million.
Mr Brewer said: “Likewise Group is now clearly established as a leading company in the UK flooring industry and is well on target to achieve its medium term targets.
“Sales revenue for the first four months of 2023 has shown a further increase of 17.8% over the corresponding period last year, reflecting strong performance against macro-economic headwinds.”
He said the organic growth of the Likewise branded businesses of 25.7% in 2022, followed by a further 23.5% in the first four months of 2023, had been achieved through a significant increase in market presence through substantial investment in point-of sales displays and sampling, combined with the ongoing development of sales teams throughout the UK.
He added: “Likewise has made a positive start to the first four months of 2023 and in market conditions which continue to be challenging, has undoubtedly gained market share.
“This has been achieved through continually increasing market presence and the success of our experienced sales teams throughout the UK, supported by the logistics infrastructure being established.
“We would like to thank all of our suppliers, customers, management, staff and shareholders for their ongoing support and huge contribution to the ongoing development of Likewise.
Likewise Group has divisions in the north, north-east, Midlands, south and south-east and Scotland.
