Fast growing flooring distributor enjoys flying start to 2025 as it publishes strong final results for 2024
Likewise Group plc, the fast growing UK flooring distributor, has enjoyed a stellar start to 2025 as it publishes its final results for 2024.
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Audited results to December 31 2024 reveal that turnover increased by 7.4 per cent to £149.8 million from £139.5 million, with sales in Likewise Floor up 15.5 per cent.
Underlying EBITDA of £8.8 million was up on the 2023 figure of £7.9 million, with adjusted profit before tax at £2 million (£2.3 million 2023) reflecting additional investment, particularly in the first half of 2024.
The board is proposing a final dividend of 0.25p.
Chief executive Tony Brewer said: “Group sales revenue in the first four months of 2025 has progressively increased each month from January to April by 10.2 per cent against the same period last year, and by 11.5 per cent on a like-for-like basis, given one less working day in 2025 versus 2024.”
He said monthly revenues now consistently annualise to £170 million, with months exceeding £13 million to £14 million revenue driving improved operational gearing and profitability.
Operational highlights across 2024 included the expansion to 12 distribution and logistics centres with total capacity now at circa 15 million cubic feet.
Likewise has 87 suppliers across key flooring products, with 96 customer-focused management and sales executives.
Mr Brewer said Likewise Group plc, which is headquartered at Birmingham Business Park near the NEC, owns the freehold of five of its 12 operating centres valued at £23.5 million, with only £2.3 million of fixed debt against the one property.
He said growing revenue and strategic property investment provides the board with confidence to achieve the current market forecasts for the full year of 2025 with sales revenue progressing quickly towards £200 million over the next few years.
“This performance has been achieved through the strategic decisions to increase operating capacity by investing since 2021 in new distribution hubs in Birmingham, Leeds and Glasgow, plus new logistics centres in London, Newbury, Manchester and Newcastle.
“This combined with the acquisition of Valley Wholesale Carpets Limited in January 2022 with distribution centres in London, Derby and Newport has transformed the group’s operating capability in the last four years.
“More recently, the Plymouth logistics centre purchased earlier in 2025 completes the group’s geographical coverage of the UK,” he said.
Combined with the logistics investment Likewise, through its two principal sales and marketing activities Likewise Floors and Valley, is continually developing new products with the leading UK, European, Turkish and Far East flooring producers to ensure customers, independent flooring retailers and contractors have a daily offering of the latest flooring products.
Mr Brewer added: “This is further enhanced by a three-way investment between the manufacturer, retailer and ourselves to position extensive new point-of-sale displays.”
