ScS hails ‘encouraging’ performance
Furniture retailer ScS has said its performance has been very encouraging since the reopening of stores after the recent Covid-19 lockdown and that it now expects its full year performance to be ahead of market expectations.
As of 12 June 2021, the retailer’s order book stood at £116.6 million, which was £39 million more than at the same point in the prior year.
ScS saw its online order intake rise by 95.3% year-on-year in the 46 weeks to 12 June.
The results mean that SCS’s overall like-for-like order intake in the period was 10.6% higher than in the previous financial year.
The company has also announced that it has recommenced the payment of dividends and repaid the £3 million Coronavirus Job Retention Scheme grants previously claimed.
Looking ahead, ScS said in a statement: “The board is encouraged by the group’s strong trading performance since reopening. Whilst some uncertainty persists relating to the end to all Covid restrictions, the board believes the group is well positioned to maximise opportunities for growth.
“The group has a robust balance sheet and the re-introduction of dividends today reflects the board’s confidence in the business going forward. As such, and given the strength of the current order book, the board’s outlook for FY22 is substantially better than current market forecasts.”
