ScS delays first half results
Furniture retailer ScS has postponed the issuing of its full interim results following yesterday’s announcement regarding changes to the government’s COVID-19 strategy.
While the results are expected to be released by the end of this week, the company said that gross sales edged up 0.5% to £160.1 million in its first half while gross profit increased by 0.3% to £71.7 million. However, like-for-like order intake was down 4.4%.
Speaking about more current trading, ScS said its order intake rose by 3.3% on a like-for-like basis in the first seven weeks of the second half of the year.
David Knight, ScS chief executive, said: “Whilst consumer confidence remains low, the group has been successful in sustaining profitable growth and increasing its resilience. Trading in the early part of the year was particularly challenging. However, the improvement and return to growth seen over the key winter sales period and for the first six weeks of the second half was encouraging.
“In the past week we have seen reduced footfall and we are mindful of the developing situation with COVID-19 and the potential impact on deliveries and demand. However, we believe the group is as well positioned as it can be.”
