Likewise Group plc’s non-executive chairman Paul Bassi has backed the company’s vision for the future with the purchase of a further 500,000 shares.
The latest purchase takes his total shareholding up to 3,500,000 shares, accounting for 1.42% of the voting rights.
The Birmingham-based investor, who is also chief executive of fellow AIM-listed business Real Estate Investors plc, was involved in the launch of UK floor coverings distributor Likewise Group in November 2019 by two former Headlam directors Tony Brewer and Andrew Simpson.
He said: “Tony and his team have made significant progress over the last four years and have a clear focus on creating the best flooring distribution business.
“They are only part way along that journey but the next one, three and five years will be really exciting as they take the business forward through further investment in people, infrastructure and market presence.”
Likewise recently published audited final results to 31 December 2024 showing that turnover increased by 7.4% to £149.8 million from £139.5 million, with sales in Likewise Floor up 15.5%.
Chief executive Tony Brewer said: “Group sales revenue in the first four months of 2025 has progressively increased each month from January to April by 10.2% against the same period last year, and by 11.5% on a like-for-like basis, given one less working day in 2025 versus 2024.”
He said that monthly revenues now consistently annualise to £170 million, with months exceeding £13 million to £14 million revenue driving improved operational gearing and profitability.
Operational highlights across 2024 included the expansion to 12 distribution and logistics centres with total capacity now at circa 15 million cubic feet.
