Sunderland sofa firm ScS half-year revenue £160m

Sunderland-based furniture and floorings retailer ScS Group said its revenue rose 1.8% to £160.7 million and gross profit increased £2.4 million to £75.3 million in the 26 weeks ended January 24, 2018.

Interim dividend is increased 8.2% to 5.30p per share.

ScS Group CEO David Knight said: “For the 26 weeks ended 27 January 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%.

“Our focus on providing excellent choice, value and quality for our customers has proven successful.

“The board is confident that its strategy is proving successful, and the business continues to strengthen, enabling it to maximise opportunities as they arise and continue to grow market share.

“For the 33 weeks ended 17 March 2018, like-for-like order intake growth was 0.9%.

“Trading in the last seven weeks has softened, with the like-for-like order intake falling 5.3%.

“This was principally due to the adverse weather conditions experienced in the week commencing 25 February 2018.

“The remaining six weeks saw like-for-like order intake in line with the same period last year.

“We expect that the retail market will continue to remain challenging in the short to medium term, and we are conscious that the group still faces the key Easter and May bank holiday trading periods.

“Despite the challenging trading conditions, the group continues to deliver profitable growth and the board is pleased with the group’s year to date trading, which is in line with its expectations.”