Likewise Group confident of meeting FY expectations

Floor coverings distributor Likewise Group said on Monday that trading in the first three months of the year was ahead of internal budgets, leaving the firm confident in meeting market expectations for 2022.

However, Likewise noted that short-term uncertainty stemming from events in Ukraine had impacted manufacturers' energy costs in production and had also led to increases in the costs of various raw materials and transportation

While the AIM-listed firm acknowledged that there were short-term global and economic issues, it did state that it was confident that establishing its enlarged infrastructure would allow it to achieve its medium-term objectives and beyond.

"In the immediate term, Likewise believes it has the supplier and customer relationships, combined with excellent management and staff, to continue to outperform the marketplace. This is consistent with the development of Likewise, particularly over the last two years," said Likewise.

As of 1025 BST, Likewise shares were down 0.56% at 36.54p.