Trading Update

Likewise Group (AIM:LIKE), the fast growing and most progressive flooring distributor is very pleased to announce that the positive sales trajectory communicated in the late Summer and early Autumn has continued with Group revenue in October increasing by 36.7% taking the year to date growth to 22.8% against the corresponding period last year.

The contribution to this particularly positive trend is across all businesses; Likewise Floors, Delta, A&A, H&V, Lewis Abbott, Likewise Rugs & Matting and Valley Wholesale Carpets.

The increased sales revenue combined with operational gearing and subsequent improved profitability provides the Board with confidence that the Group will be materially ahead of current market expectations for the financial year ending 31 December 2026 (“FY26”), with Profit Before Tax expected to be a minimum of £6 million.

The Executive Team is currently progressing with all aspects of the acquisition and integration of the various assets purchased from the Administrator of Headlam Group plc.

The Group purchased the freehold of the 90,000 square foot High Bay Distribution Hub in Thatcham from cash resources following the Group’s placing in July 2026. The Group now owns the freehold of 8 properties valued at £56 million with just £11 million of fixed debt.

Incoming deliveries to Thatcham commenced on 22 October to establish stock levels and during November the facility will become a very important part of the Likewise Floors Logistics Network, particularly across the South of England and additionally enhancing service levels in Newport, Birmingham, Sudbury, Plymouth and Sidcup.

Concept Flooring Supplies in West Bromwich and Stoke-on-Trent has replenished stock levels and are almost back to resuming “service as normal” on behalf of their loyal supplier and customer base.

The premium carpet brand, Crucial Trading, have placed stock orders with their key suppliers to supplement existing stock and the bespoke Rug manufacturing operation in Kidderminster is immediately processing incoming orders.

It is expected that both Concept Flooring Supplies and Crucial Trading will be earnings enhancing in FY27, reinforcing Likewise’s position as the leading UK flooring distributor and supporting further growth in market share and profitability.

The Stock Agency Agreement is being managed particularly carefully to sell through the Administration stock and avoid any disruption to the UK flooring industry.

Numerous exclusive products from the various purchased brands are currently being restocked in both Likewise Floors and Valley Wholesale Carpets to enable continuity across the residential and commercial customer base.

To facilitate the transport and logistics requirements, the Group will increase the number of delivery trucks by 16 to 192 this year, with further increases envisaged in Q1 and Q2 2027.

Whilst FY27 trading performance is very difficult to predict, the Board is confident that the various aspects of the acquisition combined with the trajectory of the existing businesses will progress the Group rapidly towards its next objective of £300 million sales revenue over the coming years.

Tony Brewer, Chief Executive of Likewise Group plc, said:

The Group has made significant progress during the year. The product development and display initiatives over the last few years are accelerating the business forward supported by the excellent Management, Sales Teams and people throughout our company.

The Board welcomes the staff from Headlam and thanks all our 738 employees for their extremely important contribution to the ongoing success of the Group.

2027 will be a particularly exciting year in our history as we endeavour to maximise all the opportunities before us in the UK flooring market and we very much appreciate the support of shareholders, suppliers, customers and all stakeholders