Likewise – having less than five weeks ago stated “the group is well placed”… now a profit warning!
By Steve Moore | Friday 28 October 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
UK floor coverings distribution group Likewise (LIKE) commences a trading update with that it “is pleased that its ongoing investment in sales representatives, point of sale and logistics infrastructure, has resulted in sales revenue continuing to progressively increase month on month. Revenue growth in Q3 of 23% organic and 96% total growth exceeded the performance achieved in Q2, with full year revenues expected to slightly exceed current market expectations”. That sounds good, so what of a current share price response down over 16.5% towards 15p?
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