Likewise Group Plc (LON:LIKE) this week provided a trading update in which it stated that that Gross Sales Revenue for the year ended 31 December 2023 increased by 13.6% to £140.2 million.

We caught up with Zeus Capital Analyst Andy Hanson for his view on the news.

Likewise Group plc has announced now published its trading update for FY23. What did you think of the news?

It has traded very strongly across FY 23 taking significant amount of market share.

With the focus on scaling up and growth, do you think it’s starting to pay off?

Yes definitely, lots of confidence in it being able to achieve the medium term £200m of revenue and operating gearing should see earnings grow more quickly than revenue.

How do you see the outlook for the company?

The macro backdrop is still difficult but I see no reason why Likewise can’t continue to take market share.

What newsflow do you hope to see from Likewise over the coming months?

I don’t expect further acquisitions in the short term but for it to now build out on what it has.

Likewise Group PLC (LON:LIKE) is a distributor of floorcoverings and matting and has the opportunity to consolidate the domestic and commercial floorcovering markets to become one of the UK’s largest distributors in this sector.