Sunderland’s ScS sees revenue hit £158m

Shares of Sunderland-based furniture and floorings retailer ScS Group rose on Tuesday after it said its revenue rose 14.6% to £157.9 million and gross profit increased 12.4% to £72.9 million in the 26 weeks to January 28.

Operating loss was reduced to £2.6 million from £3.4 million and interim dividend will be 4.90p per share, up from 4.67p.

ScS shares rose about 2.5% to around 165p, giving the firm a stock market value of around £65 million.

ScS chief executive officer David Knight said: “For the 33 weeks ended 18 March 2017, like-for-like order intake growth was 0.9%.

“This is a pleasing performance against very strong prior year comparatives, and represents a two year like-for-like order intake growth of 12.5%.

“Trading in February was challenging, largely driven by reduced footfall.

“However, we have seen an improvement since the start of March.

“We remain mindful that the group still faces the key Easter and May bank holiday trading periods and faces very strong comparatives during the remainder of the year.

“The board believes the business remains in a strong position to maximise opportunities as they arise and to grow market share.

“Given the year to date performance of the business, the board currently expects results for the financial year to be in line with expectations.”