17th Jan 2024 16:31
Likewise Group PLC - Birmingham, England-based domestic and commercial floor coverings distributor - Pays GBP3.9 million consideration to vendors of Valley Wholesale Carpets (2004) Ltd under the terms of its acquisition of the latter for a total GBP30 million in December 2021. No further payments are owed to the vendors of Valley Wholseale, while the payment was funded from Likewise's current cash resources. Chief Executive Officer Tony Brewer says: "Valley has been an excellent acquisition with the quality of assets acquired plus the positive impact to group profitability and operating cash flow...Whilst very early in the year, trading has commenced positively, and the Likewise Group is extremely well positioned to accelerate growth during 2024."
Current stock price: 22.50 pence, flat
12-month change: up 9.8%
By Greg Rosenvinge, Alliance News senior reporter
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