ScS Group PLC H1 Trading Statement (3828D)

TIDMSCS

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 GBP12m 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                    c/o Buchanan +44 
  David Knight, Chief Executive    (0)20 7466 5000 
  Officer 
  Chris Muir, Chief Financial 
  Officer 
 Buchanan                         Tel: [phone] 
  Richard Oldworth                 5000 
  Madeleine Seacombe               [e-mail] 
 Shore Capital                    Tel: [phone] 
  Patrick Castle                   4050 
  Dru Danford 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 31, 2018 02:00 ET (07:00 GMT)