Likewise Group PLC Trading and Operations Update (8924A)

TIDMLIKE

RNS Number : 8924A

Likewise Group PLC

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 GBP200 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                                   Tel: 0121 817 
  Tony Brewer, Chief Executive                         2900 
  Roy Povey, Chief Financial Officer 
 Zeus (Nominated Adviser & Joint Broker)              Tel: 0203 829 
  Jordan Warburton / David Foreman / James Edis        5000 
  (Investment Banking) 
  Dominic King (Corporate Broking) 
 Ravenscroft Consultancy & Listing Services Limited   Tel: 01481 
  (Joint Broker)                                       732746 
  Semelia Hamon (Corporate Finance) 
 Novella Communications (Financial PR)                Tel: 0203 151 
  Claire de Groot / Tim Robertson                      7008

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May 30, 2023 02:00 ET (06:00 GMT)

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