ScS Group PLC Trading Update (4473N)
August 09 2017 - 1:00AM
UK Regulatory
TIDMSCS
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 c/o Buchanan +44
David Knight, Chief Executive (0)20 7466 5000
Officer
Chris Muir, Chief Financial
Officer
Buchanan Tel: +44 (0)20 7466
Richard Oldworth 5000
Madeleine Seacombe scs@buchanan.uk.com
Investec Tel: +44 (0) 20 7597
Garry Levin 5970
David Flin
Alex Wright
This information is provided by RNS
The company news service from the London Stock Exchange
END
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