Likewise Group trading update shows 16.5% like-for-like revenue growth and a business still pushing hard
Likewise Group has put out a confident trading update, and the headline number is hard to ignore. On a like-for-like basis – meaning comparing the business on a consistent basis with the same period last year – total group revenue for the year to 31 May 2026 increased by 16.5%.
May itself was even stronger, with sales up 19.1% against the corresponding month last year. That tells investors the growth rate is not fading away. If anything, the latest month suggests momentum is still building.
The company is also sticking to a bigger long-term message: it is investing now so it can comfortably handle sales beyond its £250 million target. That matters, because fast sales growth can become messy if warehouses, trucks and cutting capacity cannot keep up. Likewise is clearly trying to stay ahead of that problem.
Key numbers from the Likewise Group RNS that investors should focus on
| Metric | Figure | What it tells us |
|---|---|---|
| Like-for-like revenue growth year to 31 May 2026 | 16.5% | Strong underlying sales growth versus last year |
| May 2026 sales growth | 19.1% | Momentum remained strong in the most recent month |
| Target sales revenue capacity | Materially exceed £250 million | Management says infrastructure will support sales above this level |
| Fleet size during 2026 | In excess of 160 | Distribution capability is being expanded |
| East Midlands hub size | 60,000 square foot | Potential extra logistics capacity, subject to legal due diligence |
Why Likewise Group’s revenue growth matters more than just a nice headline
A 16.5% like-for-like increase is impressive because it points to organic progress rather than growth being flattered by acquisitions alone. The company also says order intake continues to be positive, which suggests demand is still healthy rather than growth being a one-off spike.
Management goes further and says the group is taking exponential gains in market share. That is punchy language, and investors should note it is management’s description rather than a market share figure backed up with disclosed numbers. Still, paired with near-20% May sales growth, it does fit the picture of a distributor winning business at a good clip.
For retail investors, this is the central point. Likewise is not talking about survival or stabilisation. It is talking about expanding capacity because current trading is strong enough to justify it.
Leeds, Newport and Derby expansion shows Likewise is backing growth with real infrastructure
This update is not only about sales. A lot of it is about operational investment, which is often where the real story sits in distribution businesses.
- The second distribution hub in Leeds is now operational.
- The Newport extension is due to commence operations in July.
- Valley has increased capacity with cutting in Derby.
- Legal due diligence is progressing on acquiring the freehold of a 60,000 square foot high bay distribution hub in the East Midlands.
- The delivery truck fleet will be in excess of 160 during 2026.
In plain English, Likewise is adding warehousing, cutting capacity and transport. Cutting matters in flooring distribution because customers often need products prepared to specific sizes, so extra cutting capacity can improve service levels and throughput. More truck capacity should also help delivery performance, which is a big deal in a trade-facing business.
The fact that Leeds is already operational is positive because that benefit is no longer theoretical. Newport starting in July means more support is about to come onstream. The East Midlands hub is slightly different, because it is still going through legal due diligence, so that piece is not done yet.
Likewise Group’s £250 million sales target looks increasingly credible
The company says that with infrastructure built over the last five years, plus the investments due to be completed before the end of 2026, it will have the capacity to materially exceed £250 million of sales revenue. That is an important distinction. It is talking about capacity, not saying it has already reached that sales level.
Even so, capacity matters. One of the classic bottlenecks in growing distribution businesses is that sales teams can win orders faster than the network can fulfil them. Likewise seems determined not to let that happen.
My read is that this is a constructive update because it links strong current trading with practical steps to support future growth. That makes the £250 million ambition feel more grounded. It is not just a boardroom target pinned to a slide deck.
Margins are the next big thing to watch in the Likewise investment case
The board says it remains confident of achieving current market expectations for the year ending 31 December 2026. It also says it is very focused on improving operating margins to enable further investment and development.
That margin comment is worth your attention. Revenue growth is great, but investors ultimately want to know how much profit drops through after warehousing, transport and labour costs. The company has not disclosed any updated profit figures in this announcement, and current market expectations are not quantified here.
So the positive is clear: trading is strong and the board sounds confident. The slight frustration is that there is no fresh number on profit, margin, cash generation or capital spend. That means investors can see the direction of travel, but not yet the full financial payoff.
What is positive and what is negative in this Likewise Group RNS?
What looks positive
- Like-for-like revenue growth of 16.5% is strong.
- May sales growth of 19.1% suggests momentum remains healthy.
- Order intake is described as positive.
- Major logistics and capacity investments are either complete or close to completion.
- The board is confident of meeting current market expectations.
What investors should treat with a bit of caution
- No profit figure or margin figure is provided in the update.
- No detail is given on the cost of these investments.
- The East Midlands freehold acquisition is still subject to legal due diligence.
- Management mentions global uncertainties, but does not spell out specific risks.
That leaves this as a clearly positive trading statement, but not a complete financial picture. It tells you the engine is running strongly. It does not yet tell you exactly how efficient that engine is becoming.
What this Likewise trading update means for retail investors
If you already follow Likewise Group, this update should be encouraging. It shows a business growing quickly, adding capacity sensibly, and speaking with confidence about the current year.
If you are new to the story, the attraction is fairly straightforward. Likewise appears to be using a stronger operational network to win more sales and potentially more market share in UK flooring distribution. That can be a powerful model if margins improve alongside volume.
The next thing I would want to see is evidence that these investments translate into better operating margins, not just bigger revenue. Management has flagged that as a priority, which is good. Now investors will want the numbers to start backing it up.
Bottom line on Likewise Group’s June 2026 trading update
This is a strong update from Likewise Group. Revenue growth is running well ahead of what many small-cap investors would call ordinary, recent monthly trading looks even better, and the company is investing heavily enough to support sales materially above £250 million.
The main missing piece is profitability detail, because that is not disclosed here. But on the evidence in this RNS alone, the direction of travel is positive: stronger sales, bigger infrastructure, and a board that believes the business is on track for market expectations in 2026.
In short, Likewise looks like a company still in build mode, but doing so from a position of strength rather than strain. That is usually the healthier way to grow.
