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ScS Group plc (SCS)

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Wednesday 22 November, 2017

ScS Group plc

AGM Statement

RNS Number : 1441X
ScS Group PLC
22 November 2017
 

 

22 November 2017

 

 

ScS Group plc

("ScS", or the "Group")

AGM Statement

 

ScS, one of the UK's largest retailers of upholstered furniture and floorings, will hold its Annual General Meeting today at 14.00 at Ramside Hall Hotel, Durham, DH1 1TD, at which Alan Smith, Chairman, will make the following statement:

 

"The Board is pleased to report that the Group has made a good start to the financial year, with like-for-like order intake up 2.9% for the 16 weeks ended 18 November 2017, and two-year like-for-like orders up 8.0%.

 

The core ScS business has continued to perform well, with like-for-like order intake up 3.6%, and two-year like-for-like orders up 7.9%.

 

Our House of Fraser concessions, which represented 6.2% of Group order intake in the period, have seen like-for-like orders decline 6.4% against very strong comparatives, with two-year like-for-like orders up 10.0%.

 

We remain on schedule to open a new store in Chelmsford on Boxing Day 2017.  The Group will then trade from 101 ScS stores and operate 27 House of Fraser concessions.

 

Whilst it is still early in the current financial year, the Group continues to trade in line with our expectations. 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

[email protected]

Shore Capital

Ed Matthews

Patrick Castle

Tel: +44 (0)207 408 4050

 


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