Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSCS.L Regulatory News (SCS)

  • There is currently no data for SCS

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Trading Update and Directorate Change

12 Aug 2015 07:00

RNS Number : 7707V
ScS Group PLC
12 August 2015
 



For Immediate Release

12 August 2015

 

 

ScS Group PLC

("ScS" or the "Company")

 

Trading Update and Directorate Change

 

ScS, one of the UK's largest retailers of upholstered furniture and floorings, today provides an update on trading for the year ended 25 July 2015, ahead of announcing its Full Year Results on 29 September 2015.

 

Further to the last update on 7 May 2015, trading has improved in the final quarter of the financial year and as a result total like-for-like order intake for the 26 weeks to 25 July 2015 was up 1.4% on last year.

 

Total like-for-like sales for the year to 25 July 2015 were up 5.0% on last year.

 

The Board therefore today confirms that it expects to report results in line with current market expectations for the year ended 25 July 2015 and remains committed to £5.6 million in total dividend payments to shareholders in relation to the 2015 financial year.

 

In addition, the Board announces that Ron Turnbull, Chief Financial Officer and Executive Director, has decided to step down from the Board and resign from the Company. Ron will remain in his role for as much of the current financial year as is necessary to ensure a smooth handover to his successor once appointed. The Board has started an external search process to find a new Chief Financial Officer. Further announcements will be made in due course.

Alan Smith, Chairman, said:

"I'm pleased to report that sales have recovered in the final quarter of the financial year and the Company has entered the New Year well positioned for future growth.

"I would like to thank Ron for his significant contribution to ScS over the last 11 years; in particular for the key role he played in achieving a successful IPO for the Group in January of this year. I and the Board wish him every success for the future."

Ron Turnbull commented:

"I am proud of what we have achieved at ScS over my time with the Company. However, after 11 years at ScS I feel that now is the right time for me to pursue new opportunities. I wish everyone at and working with ScS well and I am confident that the business will continue to go from strength to strength."

Enquiries:

 

ScS Group PLC

David Knight, Chief Executive Officer

Ron Turnbull, Chief Financial Officer

 

c/o Buchanan +44 (0)20 7466 5000

Buchanan

Mark Edwards / Gabriella Clinkard / Jane Glover

 

Tel: +44 (0)20 7466 5000

scs@buchanan.uk.com

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 currently trades from 97 stores.

 

In 2014 ScS began to operate the furniture and carpet concession ranges for the House of Fraser "For Living" brand. ScS currently operates in 30 House of Fraser stores across the UK.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCPBMFTMBIBBPA
Date   Source Headline
21st Nov 20074:00 pmRNSResults of Meetings
21st Nov 20072:39 pmRNSNet Asset Value(s)
20th Nov 20073:05 pmRNSNet Asset Value(s)
19th Nov 20074:21 pmRNSNet Asset Value(s)
16th Nov 20074:20 pmRNSNet Asset Value(s)
15th Nov 20074:42 pmRNSNet Asset Value(s)
14th Nov 20074:36 pmRNSNet Asset Value(s)
13th Nov 20074:42 pmRNSNet Asset Value(s)
12th Nov 20076:12 pmRNSNet Asset Value(s)-Amendment
12th Nov 20072:57 pmRNSNet Asset Value(s)
9th Nov 200712:43 pmRNSNet Asset Value(s)
8th Nov 20071:28 pmRNSNet Asset Value(s)
7th Nov 20073:16 pmRNSNet Asset Value(s)
6th Nov 20071:09 pmRNSNet Asset Value(s)
5th Nov 20071:33 pmRNSNet Asset Value(s)
2nd Nov 20071:52 pmRNSNet Asset Value(s)
2nd Nov 200711:47 amRNSPortfolio Update
1st Nov 20072:27 pmRNSNet Asset Value(s)
31st Oct 20071:44 pmRNSNet Asset Value(s)
30th Oct 20074:37 pmRNSNet Asset Value(s)
29th Oct 20073:51 pmRNSNet Asset Value(s)
26th Oct 20073:47 pmRNSNet Asset Value(s)
25th Oct 20075:09 pmRNSNet Asset Value(s)
25th Oct 20074:05 pmRNSRollover Proposals
24th Oct 20075:26 pmRNSDividend Declaration
24th Oct 20074:25 pmRNSNet Asset Value(s)
23rd Oct 20073:38 pmRNSNet Asset Value(s)
22nd Oct 20073:26 pmRNSNet Asset Value(s)
19th Oct 20074:12 pmRNSNet Asset Value(s)
18th Oct 20071:56 pmRNSNet Asset Value(s)
17th Oct 200712:59 pmRNSNet Asset Value(s)
16th Oct 20073:28 pmRNSNet Asset Value(s)
15th Oct 20072:57 pmRNSNet Asset Value(s)
12th Oct 20074:06 pmRNSNet Asset Value(s)
11th Oct 20073:25 pmRNSNet Asset Value(s)
10th Oct 20071:42 pmRNSNet Asset Value(s)
9th Oct 20073:27 pmRNSNet Asset Value(s)
8th Oct 20073:00 pmRNSNet Asset Value(s)
5th Oct 20071:43 pmRNSNet Asset Value(s)
4th Oct 20071:45 pmRNSNet Asset Value(s)
3rd Oct 20071:56 pmRNSNet Asset Value(s)
2nd Oct 20072:31 pmRNSNet Asset Value(s)
1st Oct 20071:15 pmRNSNet Asset Value(s)
28th Sep 200712:08 pmRNSNet Asset Value(s)
27th Sep 20073:11 pmRNSNet Asset Value(s)
26th Sep 200712:26 pmRNSNet Asset Value(s)
25th Sep 200711:48 amRNSNet Asset Value(s)
24th Sep 200712:29 pmRNSNet Asset Value(s)
21st Sep 200712:45 pmRNSNet Asset Value(s)
20th Sep 20073:42 pmRNSNet Asset Value(s)

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.