19th Mar 2019 10:41
LONDON (Alliance News) - ScS Group PLC on Tuesday said its profit grew by a quarter in the first half of its current financial year on higher order value and improved in-store sales.
The furniture and floorings retailer said revenue in the six months to January 26 rose by 1.1% to GBP151.4 million from GBP149.9 million a year before, resulting in pretax profit of GBP500,000, up 25% from GBP400,000.
During the period, the company saw further growth in in-store sales, which were up 1.4% to GBP21.6 million year-on-year. Meanwhile, flooring order values rose 3.1% to GBP697 from GBP676 a year prior.
ScS increased its interim payout by 3.8% to 5.50 pence from 5.30p paid a year earlier.
"The group continues to deliver profitable growth whilst increasing its resilience," said Chief Executive David Knight.
For the 33 weeks ended Saturday last week, ScS said it achieved like-for-like order intake growth of 2.9%.
"The retail market continues to suffer in the midst of the uncertain economic and political environment," Knight continued. "We therefore expect the trading environment to continue to remain challenging in the short to medium term, although the board is confident that the group is well positioned to maximise opportunities as they arise."
The stock was trading 2.0% higher on Tuesday at 226.00p a share.
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