Likewise Share Discussion Threads

[gswredland] 25/3/2024 11:55

Back to 16p despite a positive outlook?

[bda3490] 08/3/2024 19:21

Like the co but headlam shares are more easy to trade in this sector

[william127] 06/3/2024 07:55

Positive update. Jan and Feb up 11.5% and 11 new sales executives taken on

[william127] 05/3/2024 22:42

Yes Tony Brewer Chief Executive sold 2,500,000 stating he does not intend selling anymore in the foreseeable future leaving leaving him with 27,000,000

[s34icknote] 05/3/2024 22:22

Director sell ?

[william127] 05/3/2024 10:39

Just added. Looking forward to our results now.

[pireric] 05/3/2024 09:34

"Competition has also been heightened in this part of the market [Regional distribution], with aggressive pricing at times; despite this, our gross margins have been stable and well-controlled."

Eric

[william127] 05/3/2024 08:39

People reading across from Headlam that it must be the same here. The two companies are poles apart.

[my retirement fund] 10/2/2024 17:49

Says inline

[adelaide21] 10/2/2024 13:31

Its in the RNS plus recent interview TB disclosed all finances. Nothing being kept undisclosed. Business continues to to be exceeding market expectation.

[william127] 04/1/2024 08:33

Expected profits in line

[cousinit] 04/1/2024 08:10

No mention of the balance of £5m consideration for the previous acquisitions. Has it been paid? How much? What's liquidity position now if it has? Sales progress looks impressive but do struggle with the limited disclosure on the financials.

[william127] 04/1/2024 07:58

FY GROSS SALES REVENUE INCREASED BY 13.6% TO £140.2MILLION GROUP'S SALES REVENUE FOR FY23 IS AHEAD OF CURRENT MARKETEXPECTATIONS

[william127] 04/1/2024 07:53

Ahead of expected sales. Profit in line continues to invest in growth. FY GROSS SALES REVENUE INCREASED BY 13.6% TO £140.2MILLION

[william127] 07/12/2023 10:32

Yesterday's update backed up with 3 directors adding to holdings

[william127] 06/12/2023 10:38

Good update again today. Looking positive with sales additions into new year.

[william127] 20/11/2023 21:15

Tony Brewer 10th November. Again more confident than his previous interviews.https://www.directorstalkinterviews.com/likewise-group-tony-brewer-capturing-beyond-10-of-2-billion-flooring-market-video/4121132514

[value viper] 20/11/2023 19:15

Last year they gave a trading statement at the beginning of December - it's been very quiet here - I'm gonna guess there will be one around then

[william127] 14/11/2023 11:30

Stated in January presentation that payments will come from cash by Tony Brewer. Since then interim dividend has started. Very heavily owned by directors I see no worries at all in financials with LIKE.

[velocytongo] 10/11/2023 21:10

One more thought on LIKE, if you add the amounts due next year to Valley and Delta, current assets do not cover current liabilities (i.e the current ratio). It is 0.94 and not above 1 as you would expect. This is a credit red flag for obvious reasons.

The share price is depressed for a reason.

[velocytongo] 10/11/2023 16:35

I agree with the comments about Headlam and these trade counters. Headlam did allude to financial stress amongst competitors at the most recent update and they may have been referring to LIKE

FD left (although still listed as working there on Linkedin) and that was slipped into the interims (and normally there is a separate announcement); the more pressing issue is the £4.2m in cash that is due Jan 2024 and £0.4m due April 2024.

As part of the Valley Wholesale Carpets acquisition

"The Company will also issue the Consideration Shares, being 5.0 million Ordinary Shares, to the Valley Wholesale Carpets Vendors. The Consideration Shares are underpinned by a £5.0 million valuation on the second anniversary (Jan 2024)of Acquisition Completion, such that, should the Consideration Shares be valued at less than £5.0 million on that date, the Company will pay the Valley Wholesale Carpets Vendors the difference in cash."

So, 5,000,000 shares are due to come onto the market in two months' time, and, assuming a share price of 16.4p, LIKE will have to pay out £4.18m in cash. I'm not sure the company envisaged this when it did the deal.

Likewise, excuse the pun, 500,000 shares are due on the market for the Delta acquisition with a v similar arrangement to the Valley deal.

"500,000 new £0.01 shares in Likewise Group Plc valued at £187,500 at the date of acquisition which includes a guaranteed cash payment of the difference between £1 per share and the share price on 1 April 2024. At current prices, the company will have to pay out a further £418k in April 2024."

This is going to make the going concern discussion with auditors interesting given c £28m in loans and leases. The share-related payments, totaling £4.6m between Jan and April, are going to use up the existing cash/liquidity of £4.5m. The company will need a v strong Xmas trading period.

[rudder] 27/10/2023 12:38

Some decent buying at last.

[aim0raider] 26/10/2023 07:18

Joint broker. Funding in progress?