ScS reports H1 FY20 sales of £160.1 million

ScS, one of the UK’s largest retailers of upholstered furniture and floorings, has announced its interim results for half year (H1) fiscal 2020 that ended on January 25, 2020. The company reported 0.5 per cent growth in its sales to £160.1 million while its revenue grew 0.3 per cent to £152.0 million compared to same period prior year. 

 

ScS, one of the UK's largest retailers of upholstered furniture and floorings, has announced its interim results for half year (H1) fiscal 2020 that ended on January 25, 2020. The company reported 0.5 per cent growth in its sales to £160.1 million while its revenue grew 0.3 per cent to £152.0 million compared to same period prior year. #

Gross profit rose 0.3 per cent to £71.7 million. The group’s like-for-like order intake reportedly decreased 4.4 per cent in the first half of the financial year, with a two year like-for-like order intake decrease of 2.9 per cent. Despite the order decline, the group has reportedly achieved an increase in revenue and gross profit in the period.

 

ScS, one of the UK's largest retailers of upholstered furniture and floorings, has announced its interim results for half year (H1) fiscal 2020 that ended on January 25, 2020. The company reported 0.5 per cent growth in its sales to £160.1 million while its revenue grew 0.3 per cent to £152.0 million compared to same period prior year. #

The company attributed the performance in H1 FY20 to: the increase in upholstered furniture sales in ScS stores 1.4 per cent to £131.6million (H1 FY19: £129.8 million); decrease in flooring sales in ScS stores of 13.2. per cent to £18.7m (H1 FY19: £21.6 million); and an increase in online sales of 24.5 per cent to £9.8 million (H1 FY19: £7.8 million). 

 

ScS, one of the UK's largest retailers of upholstered furniture and floorings, has announced its interim results for half year (H1) fiscal 2020 that ended on January 25, 2020. The company reported 0.5 per cent growth in its sales to £160.1 million while its revenue grew 0.3 per cent to £152.0 million compared to same period prior year. #

“Whilst consumer confidence remains low, the group has been successful in sustaining profitable growth and increasing its resilience. Trading in the early part of the year was particularly challenging,” David Knight, chief executive officer of ScS, said in a press release.

 

ScS, one of the UK's largest retailers of upholstered furniture and floorings, has announced its interim results for half year (H1) fiscal 2020 that ended on January 25, 2020. The company reported 0.5 per cent growth in its sales to £160.1 million while its revenue grew 0.3 per cent to £152.0 million compared to same period prior year. #

“However, the improvement and return to growth seen over the key winter sales period and for the first six weeks of the second half was encouraging. In the past week we have seen reduced footfall and we are mindful of the developing situation with Covid-19 and the potential impact on deliveries and demand. However, we believe the group is as well positioned as it can be,” Knight said.