TIDMSCS

RNS Number : 4473N

ScS Group PLC

09 August 2017

 
   9 August 2017

ScS Group plc

("ScS" or the "Group")

Trading Update

ScS, one of the UK's largest retailers of upholstered furniture and floorings, today issues the following trading update ahead of announcing its preliminary results for the 52 weeks ended 29 July 2017 (the "Year") on 3 October 2017.

The Board is pleased to report that the Group has traded in line with its expectations for the Year, with overall order growth of 1.4%.

At the time of our interim results announcement on 21 March 2017, we highlighted that the Group faced very challenging comparatives and what appeared to be a softening market environment. As such, while the like-for-like order intake in the second half of the Year declined 5.0%, the two-year like-for-like order intake for the second half of the Year improved and delivered growth of 16.9%.

Due to the strong comparatives last year, on a like-for-like basis, the Group experienced an order intake decline of 0.7% for the Year. However, the two-year like-for-like order intake has grown 14.3%.

David Knight, Chief Executive Officer of ScS, commented:

"We are pleased that despite the challenging comparatives and wider market backdrop we have traded in-line with the Board's expectations for the Year.

Looking ahead, notwithstanding the current trading environment, the Board believes the business remains in a strong position to maximise opportunities as they arise and to grow market share."

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: +44 (0)20 7466 
  Richard Oldworth                 5000 
  Madeleine Seacombe               scs@buchanan.uk.com 
 Investec                         Tel: +44 (0) 20 7597 
  Garry Levin                      5970 
  David Flin 
  Alex Wright

This information is provided by RNS

The company news service from the London Stock Exchange

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