Likewise Group (LON: LIKE) expects pre-tax profit of at least £6m for 2026, which it says is materially ahead of market expectations. The UK flooring distributor gave the guidance in a trading update at 7am today, alongside October revenue growth of 36.7%.
October revenue rose 36.7%, lifting growth for the year to date to 22.8% against the corresponding period last year. The company said the sales run it flagged in late summer and early autumn has continued, with every business contributing, including Likewise Floors, Delta, A&A, H&V, Lewis Abbott, Likewise Rugs & Matting and Valley Wholesale Carpets.
The Board credits higher revenue, operational gearing (profit rising faster than sales) and improved profitability for its confidence in the full-year outlook. Profit before tax, the profit figure before the tax charge, is expected to be a minimum of £6m for the year to the 31st of December 2026.
Likewise is also integrating assets it is buying from the administrator of Headlam Group, a flooring distributor now in administration. It paid for the freehold of a 90,000 sq ft distribution hub in Thatcham from cash, following the July placing. Deliveries into the site began on the 22nd of October, and it joins the Likewise Floors network in November.
Concept Flooring Supplies, with sites in West Bromwich and Stoke-on-Trent, has restocked and is almost back to normal service. Crucial Trading, the premium carpet brand, has placed orders with key suppliers, and its Kidderminster rug operation is processing incoming orders. Both are expected to be earnings enhancing in FY27. Likewise will add 16 delivery trucks, taking the fleet to 192 this year.
The group now owns the freehold of eight properties valued at £56m, against just £11m of fixed debt. Tony Brewer, Chief Executive of Likewise, 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.
Tony Brewer, Chief Executive, Likewise Group
The Board is confident the acquisition and the existing businesses will move the group rapidly towards its next objective of £300m of sales revenue over the coming years. It cautions that trading performance in FY27 is very difficult to predict.