Likewise Group (LSE:LIKE), the UK flooring distributor, said in a trading update that year-to-date revenue growth and a programme of distribution and fleet expansion leave it on track to materially exceed its £250m sales target and that the board is confident of achieving current market expectations for the financial year ending 31 December.
On a like-for-like basis total group revenue for the year to 31 May has increased by 16.5% and sales in May were 19.1% higher than the same month last year, with order intake described as continuing to be positive.
The group has opened a second distribution hub in Leeds, will bring an extension in Newport into operation in July and has increased cutting capacity in Derby as part of wider supply‑chain improvements.
Legal due diligence is under way on a 60,000 sq ft high-bay freehold distribution hub in the East Midlands and the company says its delivery fleet will be in excess of 160 trucks during 2026.
"We have a clear focus and strategy on what to achieve over the next five years and beyond," Tony Brewer, Chief Executive, said.
The board added it is focused on improving operating margins to enable further investment.
