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RNS Number : 4473N
ScS Group PLC
09 August 2017
 

 

9 August 2017

 

 

 

ScS Group plc

("ScS" or the "Group")

Trading Update

 

 

ScS, one of the UK's largest retailers of upholstered furniture and floorings, today issues the following trading update ahead of announcing its preliminary results for the 52 weeks ended 29 July 2017 (the "Year") on 3 October 2017.

 

The Board is pleased to report that the Group has traded in line with its expectations for the Year, with overall order growth of 1.4%. 

 

At the time of our interim results announcement on 21 March 2017, we highlighted that the Group faced very challenging comparatives and what appeared to be a softening market environment.  As such, while the like-for-like order intake in the second half of the Year declined 5.0%, the two-year like-for-like order intake for the second half of the Year improved and delivered growth of 16.9%.

 

Due to the strong comparatives last year, on a like-for-like basis, the Group experienced an order intake decline of 0.7% for the Year. However, the two-year like-for-like order intake has grown 14.3%. 

 

David Knight, Chief Executive Officer of ScS, commented:

 

"We are pleased that despite the challenging comparatives and wider market backdrop we have traded in-line with the Board's expectations for the Year.

 

Looking ahead, notwithstanding the current trading environment, the Board believes the business remains in a strong position to maximise opportunities as they arise and to grow market share."

 

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

Investec

Garry Levin

David Flin

Alex Wright

Tel: +44 (0) 20 7597 5970

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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