31 Jan 2018 07:00
| 31 January 2018 |
ScS Group plc
("ScS", or the "Group")
H1 TRADING STATEMENT
TRADING IN LINE WITH BOARD'S EXPECTATIONS
ScS, one of the UK's largest retailers of upholstered furniture and floorings, today issues the following trading update ahead of announcing its interim results for the 26 weeks ended 27 January 2018 on 21 March 2018.
The Group achieved like-for-like order intake growth of 2.2% and two-year like-for-like order intake growth of 5.3% for the 26 weeks ended 27 January 2018.
The core ScS business has continued to perform well, with like-for-like order intake up 2.5%, and two-year like-for-like orders up 4.7%. Our House of Fraser concessions, which represented 7.4% of Group order intake in the period, have seen like-for-like orders decline 0.4%, with two-year like-for-like orders up 13.2%.
Following the opening of our new store in Chelmsford on Boxing Day, the Group now trades from 101 ScS stores and operates 27 House of Fraser concessions.
The Board is also pleased to announce an extension of the Group's committed £12m revolving credit facility to November 2021.
The Group has traded in line with the Board's expectations in the first half of the financial year, including the key winter sales period. We believe the Group's increasing resilience and value proposition will enable us to manage the continued economic uncertainty and take advantage of opportunities.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Enquiries:
ScS Group PLC David Knight, Chief Executive Officer Chris Muir, Chief Financial Officer | c/o Buchanan +44 (0)20 7466 5000 |
Buchanan Richard Oldworth Madeleine Seacombe | Tel: +44 (0)20 7466 5000 scs@buchanan.uk.com |
Shore Capital Patrick Castle Dru Danford | Tel: +44 (0)207 408 4050 |