31st Jan 2019 10:28
LONDON (Alliance News) - ScS Group PLC on Thursday said it believes the business to be in a "strong position" to face new opportunities, after reporting trading for the first half of the financial year in line with views.
The upholstered furniture and floorings retailer said that its core business continued to trade in line with its expectations, with like-for-like order intake growth of 1.5% for the 26 weeks ended January 26.
"Whilst we are mindful of the risk from the impending Brexit outcome, we believe the group's increasing resilience puts the business in a strong position to manage the continued economic uncertainty and take advantage of opportunities," the company said.
Furthermore, ScS added that it has now ceased trading from all 27 concessions within House of Fraser, following the department store chain collapse and subsequent acquisition by Mike Ahsley's Sports Direct International PLC in August.
On Tuesday, responding to "media speculation", ScS confirmed it is in talks for the potential acquisition of online furniture retailer Sofa.com Ltd.
On the same day, Sky News reported that Sport's Direct Chief Executive Officer Mike Ashley was competing with ScS to acquire online furniture retailer Sofa.com.
ScS shares were trading down 3.9% at 225.00 pence each on Thursday.
Related Shares:
SCS.LSports Direct