18 June 2024, 15:36
By Furniture News Aug 05, 2022

ScS anticipates FY profits ahead of expectations

In a trading update for the 52 weeks ended 30th July, ahead of revealing its preliminary results on 11th October, ScS has announced that positive trading, strong margin and effective cost management during the year means it now expects to report full-year profit ahead of market expectations.

FY22 saw LFL order growth of +3.9% YoY. There was a -3.9% reduction in orders when compared to FY19, the last period not impacted by the pandemic.

As of 30th July, the group's order book was £71.7m (including VAT) – down £31.8m YoY, but £28.8m higher than at the same point in 2019.

ScS says it has seen reduced in-store and online visitors resulting in a reduction in order levels in recent months, and expects the prevailing low consumer confidence to continue adversely impact it in FY23.

"However," says ScS, "the group is in a strong position as we enter the new financial year, and strategic progress over the last 12 months means we are well positioned to take market share and maximise opportunities in a difficult environment."

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