Likewise Group PLC (AIM:LIKE) shares moved up on Tuesday, climbing around 5% to 24.22p, after the firm said it has bought the freehold of a second distribution hub in Leeds for £3 million after first-quarter revenue climbed 15.2%, giving the flooring distributor fresh logistics capacity as it pushes toward a £250 million sales target.
Revenue in the three months to 31 March 2026 rose to £44.2 million from the year-earlier period, while April trading has continued in a similar vein, the company said.
Likewise added that the Leeds site, funded through existing banking facilities, will streamline the supply chain for palletised goods arriving from the Far East and Europe and release capacity at its other centres.
The company also said its Newport extension remains on schedule to be operational in July 2026, adding storage and cutting capacity to support further growth.
The board is considering additional freehold projects to expand logistics capacity for Likewise Floors and Valley Wholesale Carpets, while pointing to rising net assets and bank backing for those investments.
Likewise will report final results for the year ended 31 December 2025 on 28 April.