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 Tony Brewer, Chief Executive Roy Povey, Chief Financial Officer | Tel: 0121 817 2900 |
| Zeus (Nominated Adviser & Joint Broker) Jordan Warburton / David Foreman / James Edis (Investment Banking) Dominic King (Corporate Broking)
| Tel: 0203 829 5000 |
| Ravenscroft Consultancy & Listing Services Limited (Joint Broker) Semelia Hamon (Corporate Finance) | Tel: 01481 732746 |
| Novella Communications (Financial PR) Claire de Groot / Tim Robertson | Tel: 0203 151 7008 |
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