AGM Statement

RNS Number : 7515U

ScS Group PLC

27 November 2019

 

For Immediate Release

27 November 2019

ScS Group plc

("ScS", or the "Group")

AGM Statement

Trading for the Group in line with the Board's expectations

ScS, one of the UK's largest retailers of upholstered furniture and floorings, will hold its Annual General Meeting today at 14.00 at Indigo Hotel, Durham, DH1 3HL. At the meeting, Alan Smith, Chairman, will make the following statement:

"It is clear that the ongoing economic and political uncertainties are continuing to impact consumer confidence and spending. However, the Board is pleased to report that the business is trading in line with our expectations. In the 17 weeks ended 23 November 2019, the like-for-like order intake decreased 7.1% and the two year like-for-like order intake decreased 4.0%. This is an improvement on the like-for-like trading for the first nine weeks of the year which we reported with our full year results.

The Group continues to focus on delivering a value proposition with excellent customer service whilst increasing our resilience. This puts us in a strong position to take advantage of opportunities which will add value in the longer term once the economy and consumer confidence improve."

Enquiries:

ScS Group PLC David Knight, Chief Executive Officer Chris Muir, Chief Financial Officer	c/o Buchanan [phone]
Buchanan Richard Oldworth Tilly Abraham Charlotte Slater	Tel: [phone] [e-mail]
Shore Capital Patrick Castle James Thomas	Tel: [phone]

Notes to Editors

ScS is one of the UK's largest retailers of upholstered furniture and floorings, promoting itself as the "Sofa Carpet Specialist", seeking to offer value and choice through a wide range of upholstered furniture and flooring products. The Group's product range is designed to appeal to a broad customer base with a mid-market priced offering and is currently traded from 100 stores.

The Group's upholstered furniture business specialises primarily in fabric and leather sofas and chairs. ScS sells a range of branded products which are not sold under registered trademarks and a range of branded products which are sold under registered trademarks owned by ScS (such as Endurance and SiSi Italia). The Group also offers a range of third party brands (which include La-Z-Boy, G Plan and Parker Knoll). The Group's flooring business includes carpets, as well as laminate and vinyl flooring.

 

END

 

 

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