Midlands floor coverings firm unveils strong sales in October and November

Midlands-based UK floor coverings distributor Likewise Group revealed it was advancing towards making in excess of £200m in sales revenue.

It comes as the firm said like-for-like performance had shown strong growth against the same period last year, with sales revenue in October and November this year showing an increase of 11%, taking the sales rise in the year to date to 7.5%.

Chief executive Tony Brewer said the average daily sales in November had been £704,000.

"This demonstrates that Likewise Group is making positive progress towards creating a business in excess of £200 million sales revenue," he said.

"Furthermore, the increasing sales revenue and gross margin in the second half of 2024 is beginning to deliver operational gearing which provides the group with momentum to achieve its objectives in 2025."

Brewer added: "Despite a prolonged period of challenging market conditions, Likewise Group plc continued its growth towards its medium term objectives."

Half year figures revealed that the Solihull-based distributor had continued to increase total sales revenue by 6.2% in the year to June 30. The overall figures include continued growth in Likewise Floors' sales of 16.8%.

November’s dividend payment was 0.125p per share - up 25% on the first half of 2023.

The company has also continued to invest throughout 2024, notably in sales executives, recruiting 14 to take the total sales team to 94.

Likewise noted that the UK floor and wall covering market is worth around £3.2 billion and is expected to increase at a compound annual growth rate of 2.1% from 2019 to 2024 to reach £3.5 billion, split between the residential, commercial, public and industrial markets.