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Likewise – having less than five weeks ago stated “the group is well placed”… now a profit warning!

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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