Shares of Sunderland-based furniture and floorings retailer ScS Group fell about 7% on Tuesday after it said its revenue fell 19.5% to £255.5 million for the 52 weeks ended July 25, 2020, with its results “significantly impacted” by the COVID-19 pandemic lockdown.
ScS Group reported a pre-tax loss of £3.1 million compared to a £14.3 million profit last year.
However, order intake is up 45.8% on a like-for-like basis for the first nine weeks of the new financial year to September 26, 2020, while year to date trading “has continued to exceed the board’s expectations.”
ScS CEO David Knight said: “We are delighted with the strong trading since the start of the new financial year.
“However, we are now entering our key autumn trading period and it remains difficult to predict the potential impact of the increased economic uncertainty, including the cessation of the government’s Coronavirus Job Retention Scheme at the end of October.
“Despite the uncertainty, our value led proposition is underpinned by a strong balance sheet, and our clear offering has continued to prove successful.
“We are confident it will continue to appeal to our customers who want to buy great products at the lowest possible price.”