Source - SMW
SCS Group has swung to a FY pretax profit of £10.9m, from a loss of £1.7m. Revenue was £317.3m, from £276.7m.

It recommended a final dividend of 9.83p a share, taking the FY payment to 14.5p a share, up 3.6% from 14.0p.

Referring to current trading, the company said sales-order intake rose 4.5% on a like-for-like basis for the nine weeks to Oct. 1, 2016.

CEO David Knight commented:

"We are delighted to be reporting significant growth across all areas of the Group for the 2016 financial year.  Our sales order intake is the highest ever and is up 14.8% on a like-for-like basis.  

"These results demonstrate that the Group has made significant progress in developing ScS into a strong national brand with three very clear retail offers - upholstered furniture, flooring and our House of Fraser concessions, all supported by an online platform that has seen continued investment.

"We are encouraged by our trading performance since the start of the current financial year which is in line with our expectations.  However, we are mindful that the Group continues to face very strong comparatives during the remainder of the year.

"Looking further ahead, we are excited about our prospects, including the continued growth from our existing ScS network, the concession agreement with House of Fraser, our flooring offering and our online proposition. We continue to identify new store opportunities within our target areas. 

"The Group's cash flow dynamics underpin the strong financial position which will support our ambitions for future growth and continue to deliver value for our shareholders."

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SCS Group (SCS)

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