Sales up 11 per cent at Likewise Group
Floor coverings distributor Likewise Group has seen sales revenues rise by 11.5% to £22.8 million in the first two months of 2024.
The positive start to the year for the Birmingham-based group includes average daily sales increasing by 6.5%.
Meanwhile, sales in Likewise Branded have increased by 20.1% to £15.4 m, with average daily sales increasing by 14.5%.
The latest figures, which were compared with the same period last year, came in a Likewise Group trading update for the first two months of 2024. The update announced the board’s continuing confidence at meeting market expectations for the year.
It said the group had continued to invest and increase its market presence, recruiting 11 additional sales executives for its teams including the Midlands.
The positive start to the year, it continued, had created “significant momentum” for the traditionally busy spring trading period, with extensive launches in carpets, residential vinyl, laminate, luxury vinyl tile and artificial grass.
Tony Brewer, chief executive of the Likewise Group, said: “Whilst the first two months can only ever provide limited indication of the year as a whole, early trends are positive.
“This is a good start to the year with many opportunities before us, and the ongoing investment in sales teams, products and point of sale displays will increase our market share.
“The logistics infrastructure the group has created over the last three years is now very well positioned to process and deliver the increasing demand.”
He added: “The group continues to look forward with optimism as it accelerates towards its medium-term objectives.”
The trading update went on to state that Valley Wholesale Carpets Ltd continued to be a “particularly important contributor” to the group’s profitability and positive cash flow.
Valley is expanding its geographical reach, with new product launches with marketing initiatives further increasing its market presence.
Likewise Group also announced that an agreement to lease had now been exchanged to enable A&A in Manchester to move into a new logistics centre, bringing it into Likewise logistics network.
