Likewise Group (LSE:LIKE) reported a 15.4% increase in first-half 2026 revenue to £89.9 million and raised its full-year profit expectations following higher sales during the third quarter.
The flooring distributor reported a gross margin of 32.1%, while underlying profit before tax increased 79.5% to £1.32 million.
The company reported raw material cost pressures and supply disruption related to the Middle East during the period.
Full-Year Underlying Profit Expected at No Less Than £5 Million
Likewise said sales since July have increased 29.1%, leading the board to expect full-year underlying profit before tax to be materially ahead of previous expectations.
The company now expects underlying profit before tax of at least £5 million for the full year.
Likewise also increased its interim dividend by 20%.
£32.5 Million Fundraising Supports Distribution Expansion
The company completed a £32.5 million equity fundraising to provide additional capital for the expansion of its distribution network.
Likewise said the fundraising was significantly oversubscribed and included participation from new investors and management.
The company is expanding its logistics infrastructure through new or enlarged distribution hubs in Leeds, Newport, Derby and Corby, with an additional facility planned for Manchester.
The investment is intended to increase distribution capacity as Likewise works towards a longer-term revenue target of £300 million.
Likewise Targets Higher Capacity and Operating Margins
Likewise expects the expanded logistics network to provide capacity for additional sales volumes across its UK flooring distribution operations.
The company said increasing volumes through its distribution infrastructure is expected to support improvements in operating margins and its plans to increase its share of the UK flooring distribution market.
These objectives remain company targets and expectations rather than established outcomes.
About Likewise Group
Likewise Group is a UK distributor of floor coverings serving independent flooring retailers and contractors.
The company supplies a range of flooring products supported by point-of-sale displays and operates a distribution network that includes logistics hubs and cutting facilities across the UK.
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