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ScS encouraged by order uplift
February 2, 2023
ScS, one of the UK's largest flooring retailers, says it is "encouraged" by an order uplift and a return to growth.
In a trading update to its shareholders covering trading up to January 28 this year, the furniture and flooring plc said: "Like-for-like order intake momentum improved significantly throughout the period and the Group returned to growth of 2.6% in the last 10 weeks, which included the key winter sale."
This better news follows the company's reports of a 9.1% decrease on order intake year-on-year for the period July 31 to November19. Overall, order intake was down 4.7% for the half year from July 31 to January 28.
ScS also announced it has expanded to a portfolio of 100 stores with the opening of outlets in Swindon and York.
On prospects, the plc commented: "Despite the current economic climate remaining challenging and unpredictable, the Board is encouraged by recent order levels. We continue to believe that the Group's refreshed strategy, strong cost management and robust balance sheet places it in an excellent financial and operational position. The Group remains on track to meet full year market expectations."
ScS expects to announce its interim results on Tuesday, 21 March 2023.
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