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ScS swings first-half profit; orders slump in fresh UK lockdown
StockMarketWire.com
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Furniture and flooring retailer ScS swung to a first-half profit, driven by pent-up demand, though it said more recent orders had been hit by the fresh UK lockdown.
Pre-tax profit for the six months to 23 January amounted to £17.7 million, compared to a year-on-year loss of £0.6 million, as revenue rose 14% to £173.9 million.
ScS did not declare any dividends.
Overall order intake decrease of 87% on a like-for-like basis for the first seven weeks of the second half of the year to 13 March, resulting in order intake decline of 24% for the 33 weeks to 13 March.
'With consumer confidence and the economic environment remaining uncertain, it is difficult to provide clarity on the group's outlook for the weeks and months ahead,' chief executive David Knight said.
'However, we remain cautiously optimistic as recent government announcements have provided further clarity on the anticipated reopening of our stores.'
At 8:47am: (LON:SCS) SCS Group Plc share price was 0p at 194.25p
Story provided by StockMarketWire.com
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