Likewise Group plc
Likewise Group plc is a UK wholesale distributor of floor-coverings, rugs and matting products (carpets, residential and commercial vinyl, LVT, laminate, artificial grass and underlay) sold to independent retailers and contractors across the UK. Founded in 2018 and listed on AIM since August 2021, it has grown from one site to 13 distribution/logistics centres via a mix of acquisitions, new distribution hub openings and organic sales-team expansion, trading under brands including Likewise, Valley Wholesale Carpets, Delta Carpets, H&V Carpets, Dandy, Bruce Starke, Marquee Floors and Floors by Lewis Abbott.
6 annual reports read, FY2020 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (6)
FY2026Next report expected 22 May 2027
- Open the reportJSONComing soonSixty seconds on the FY2025 report
Likewise Group, a UK wholesaler of carpets and other flooring sold to independent shops and fitters, grew revenue to £163.1m in 2025 from £149.8m the year before. Profit before tax rose to £1.1m, from £25k. The report credits new distribution hubs, giving 13 sites across the country, a larger sales team and its online ordering website. Profit was held back by costs the company treats as one-off, including losses at newly opened sites, relocation and restructuring, and adding cutting capacity. Rising material prices were another pressure. The year ended with £4.0m in cash and £11.8m of borrowings. The company raised £1.3m by issuing new shares, also bought some back, and recommended a final dividend of 0.275p a share, up 10%. Management said revenue rose 15% in the first four months of 2026 and expects margins to improve with scale. The auditor gave a clean opinion, and the directors noted uncertainty from the Middle East conflict.
From the reportevery line sits on the page it namesWhat drove revenueGeographic network expansion / new distribution hubs (Glasgow, Leeds, Newport, Plymouth/South West)
Group now operates from 13 locations; additional Leeds hub, Newport extension and Plymouth freehold completed nationwide coverage in 2025
page 9What moved the margintailwindOperational gearing from scale and new hub utilisation
Gross margin improved to 31.1% (2024: 30.7%); Board confident of improving operating margin as Group benefits from greater scale
page 8AndheadwindRaw material and input cost inflation
Pricing pressure on various raw materials and finished products; price increases being implemented from 1 May with suppliers
page 7What management saidTotal Group revenue increasing by 15% in the first four months of 2026, rapidly approaching the original £200 million sales target; Board has authorised additional infrastructure investment and continues to evaluate further projects.
page 5After the year endOn 20 April 2026, Likewise Floors Limited completed acquisition of a freehold property in Leeds for £2.85m (excl. SDLT and associated fees), to serve as an additional distribution hub, financed through an additional term loan facility from NatWest
page 87The dividendInterim dividend of 0.1375p per share paid 14 November 2025 (2024: 0.125p); Directors recommend final dividend of 0.275p per share (up 10%), giving total 0.4125p per share for FY2025 (2024: 0.375p total), subject to AGM approval 17 June 2026, payable 10 July 2026; not included as a liability in these financial statements; DRIP available
page 25Going concern and the auditFinancial statements prepared on a going concern basis; Directors assessed cash flow forecasts to December 2027; Group operates within invoice discounting facilities and unutilised facilities with no financial covenants over the forecast period. Auditor Cooper Parry Group Limited (Melanie Hopwell, Senior Statutory Auditor) gave an unqualified/unmodified opinion that the financial statements give a true and fair view; Key Audit Matters were (1) carrying value and impairment of goodwill and other intangible assets, and (2) property valuation (third-party valuation by BNP Paribas supporting a £5.15m uplift)
page 40The risks it names first- Business disruption (fire, flood or other major incidents at key sites)p.16
- Economic conditions and impact on input prices (inflation, interest rates, Ukraine/Middle East conflicts affecting consumer discretionary spend)p.16
- Global logistics disruption (disruption to key shipping routes affecting raw material/finished goods availability)p.17
- Market competition (small number of larger distributors and regional wholesalers; competitive pricing and service pressure)p.17
Read from C000769-AR-2025-ch.
- FY2022Year to 31 Dec 2022 Opens with a free accountThe report, its reading and its figures
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- FY2020Year to 31 Dec 2020 Opens with a free accountThe report, its reading and its figures