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Furniture and upholstery seller ScS Group PLC on Friday said it is trading in line with expectations, with orders picking up after a slow start.
In the 16 weeks to November 19, like-for-like order intake was down 9.1% year-on-year. In the first 10 weeks of the period, it was 14% lower. However, between weeks 11 and 16, order intake was 1.3% higher on a year before.
ScS added: ‘The board is encouraged by the group’s recent performance and current trading is in line with its expectations for the full year. The group is preparing for the important winter sales trading period and, as always, its success will be a key factor in the results for the full year. The business is planning to approach the winter sales period in a manner consistent with that which has proved successful in prior years.’
The company noted that trading remains difficult to predict but touted its ‘refreshed’ strategy, cost management and balance sheet.
In its last posted results, ScS posted a 28% annual drop in pretax profit in the year that ended July 30, to £16.4 million from £22.7 million a year before. While revenue rose by 8.7% to £331.6 million from £305.2 million.
In October, the company recommended a final dividend of 9.0 pence per share which would give a full year divided of 13.5p per share. Last year the final dividend was 10.0p per share.
ScS shares rose 4.3% to 146.00 pence each in London on Friday morning.
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