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ScS Group plc (SCS)

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Wednesday 31 January, 2018

ScS Group plc

H1 Trading Statement

RNS Number : 3828D
ScS Group PLC
31 January 2018
 

 

31 January 2018

 

 

 

ScS Group plc

("ScS", or the "Group")

H1 TRADING STATEMENT

TRADING IN LINE WITH BOARD'S EXPECTATIONS

ScS, one of the UK's largest retailers of upholstered furniture and floorings, today issues the following trading update ahead of announcing its interim results for the 26 weeks ended 27 January 2018 on 21 March 2018.

 

The Group achieved like-for-like order intake growth of 2.2% and two-year like-for-like order intake growth of 5.3% for the 26 weeks ended 27 January 2018.

The core ScS business has continued to perform well, with like-for-like order intake up 2.5%, and two-year like-for-like orders up 4.7%. Our House of Fraser concessions, which represented 7.4% of Group order intake in the period, have seen like-for-like orders decline 0.4%, with two-year like-for-like orders up 13.2%.

 

Following the opening of our new store in Chelmsford on Boxing Day, the Group now trades from 101 ScS stores and operates 27 House of Fraser concessions.

 

The Board is also pleased to announce an extension of the Group's committed £12m revolving credit facility to November 2021.

 

The Group has traded in line with the Board's expectations in the first half of the financial year, including the key winter sales period. 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

Patrick Castle

Dru Danford

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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