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3 Feb 2022 07:00
For Immediate Release | 3 February 2022 |
ScS Group plc
("ScS", or the "Group")
Interim Trading Update
Significant order book growth and robust trading
ScS, one of the UK's largest retailers of upholstered furniture and flooring, today issues the following trading update for the 26 weeks ended 29 January 2022, ahead of its interim results.
The Group traded well through the important winter sale period and order intake for the first half of the year was in line with the Board's expectations, with one year like-for-like order intake growth of 16.6%. Two year like-for-like order intake is in line with that achieved in the pre-pandemic 26 week period to 25 January 2020.
The Group's online offering and appeal to customers continues to strengthen, with online order growth of 55.8% compared to the equivalent 26 week period to 25 January 2020.
The Group's order book has grown significantly against previous comparative periods, driven by the ongoing demand and supply chain challenges which have extended product lead times. As at 29 January 2022, the Group's order book is double the size it was at 25 January 2020, at £148.0m. The Group is working closely with suppliers to mitigate the risk of continued supply chain disruption in the second half of the financial year.
The Board is pleased with the Group's bookings performance to date and it remains on track to meet full year expectations.
ScS expects to announce its interim results on Tuesday, 22 March 2022. A meeting for analysts will be held on the morning of the results, please contact Buchanan via scs@buchanan.uk.com for further details.
Enquiries:
ScS Group PLC Steve Carson, Chief Executive Officer Chris Muir, Chief Financial Officer | c/o Buchanan +44 (0)20 7466 5000 |
Buchanan Richard Oldworth Victoria Hayns Tilly Abraham | Tel: +44 (0)20 7466 5000 scs@buchanan.uk.com |
Shore Capital Patrick Castle James Thomas | Tel: +44 (0)20 7408 4050 |
Notes to Editors
ScS is one of the UK's largest retailers of upholstered furniture and flooring, promoting itself as the "Sofa Carpet Specialist", seeking to offer value and choice through a wide range of upholstered furniture and flooring products. The Group's product range is designed to appeal to a broad customer base with a mid-market priced offering and is currently traded from 99 stores.
The Group's upholstered furniture business specialises primarily in fabric and leather sofas and chairs. ScS sells a range of branded products which are not sold under registered trademarks and a range of branded products which are sold under registered trademarks owned by ScS (such as Endurance, Inspire and SiSi Italia). The Group also offers a range of third party brands (which include La-Z-Boy and G Plan). The Group's flooring business includes carpets, as well as laminate and vinyl flooring.
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