21st Mar 2018 10:24
For the six months ended January 27, the furniture and flooring retailer swung to a pretax profit of
ScS proposed a
"The group achieved like-for-like order intake growth of 2.2% and two-year like-for-like order intake growth of 5.3%," ScS Chief Executive Officer David Knight said. "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.
During the seven weeks between the end of the interim period and March 17, like-for-like order intake growth was 0.9%.
"Trading in the last seven weeks has softened," Knight added, "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," Knight continued. "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."
Shares in ScS were 2.6% lower at
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