1 Aug 2019 07:00
For Immediate Release | 1 August 2019 |
ScS Group plc
("ScS", or the "Group")
Trading Update
Further order growth and full year performance in line with the Group's expectations
ScS, one of the UK's largest retailers of upholstered furniture and floorings, today issues the following trading update for the 52 weeks ended 27 July 2019 ahead of announcing its preliminary results on 1 October 2019.
We are pleased to report that the Group has seen like-for-like order intake growth of 4.2%, with two year like-for-like order intake growth of 5.2%. The Group expects to report full year results in line with its expectations.
The Group reported like-for-like order intake growth for the 33 weeks ended 16 March 2019 of 2.9%, and the full year performance reflects the strong growth the Group has achieved in the last 19 weeks. This growth has been partly assisted by weaker comparatives in the prior year, as a result of the hot weather and football World Cup.
David Knight, Chief Executive Officer of ScS, commented:
"I am delighted to announce that the Group has traded in line with our expectations for the year, an encouraging result given the challenging retail environment. This result is underpinned by the team's relentless focus on becoming Britain's best value sofa and carpet retailer, thereby facilitating our continued outperformance in the current political and economic environment. We will continue to target profitable growth by providing an excellent customer experience, with outstanding value, quality and choice for our customers."
Next scheduled update
The Group will announce its preliminary results for the 52 weeks ended 27 July 2019 on Tuesday 1 October 2019.
An analyst meeting will be held at the offices of Buchanan, 107 Cheapside, EC2V 6DN at 9.30am on Tuesday 1 October 2019.
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 Tilly Abraham | Tel: +44 (0)20 7466 5000 scs@buchanan.uk.com |
Shore Capital Patrick Castle Dru Danford James Thomas | Tel: +44 (0)207 408 4050 |
Notes to Editors
ScS is one of the UK's largest retailers of upholstered furniture and floorings, 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 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.