IN BRIEF: Likewise Group warns of profit shortfall despite sales rise

Likewise Group PLC - Birmingham, England-based floor coverings distributor - Reports trading update for the current financial year ending December. Sales continue to increase in the second half by 7.4% with a new record month in October resulting in year to date sales increasing by 8.9%. Likewise Floors sales up 13% to end-October in challenging markets, compounded by the hottest summer on record. But warns underlying pretax profit will fall short of current market forecasts due to increased costs and an imbalance in the revenue increases across the group. Profit will, however, be ‘significantly’ ahead of previous years. Still well ‘on course’ to achieve medium term objectives including growth in both sales revenue and profitability in 2026.

Current share price: 24.75 pence, down 12% in London on Wednesday

12-month change: up 50%

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