Sunderland sofa firm ScS resumes dividends

Shares of Sunderland-based furniture and floorings retailer ScS Group rose about 10% on Wednesday after it published a positive trading update for the 46 weeks ended June 12, 2021, and resumed dividends.

ScS said current trading is “very strong” and that it now “expects full year performance for FY21 to be ahead of market expectations.”

The company said: “As at 12 June 2021, the group’s order book was £116.6m (including VAT), £39.0m larger than at the same point in the prior year …

“As such, and given the strength of the current order book, the board’s outlook for FY22 is substantially better than current market forecasts.”

On dividends, ScS said: “The strength of the group’s balance sheet, coupled with the robust trading experienced since our stores opened in April, has provided the board with the confidence to recommence dividends, starting with an interim dividend of 3.0p per share which is being declared with this update.”

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Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.