REG - ScS Group plc - AGM Statement <Origin Href="QuoteRef">SCSS.L</Origin>

SCSAnnouncement

22/11/2017 07:00

RNS Number : 1441X
ScS Group PLC
22 November 2017
22 November 2017
ScS Group plc
("ScS", or the "Group")
AGM Statement
ScS, one of the UK's largest retailers of upholstered furniture and floorings, will hold its Annual General Meeting today at 14.00 at Ramside Hall Hotel, Durham, DH1 1TD, at which Alan Smith, Chairman, will make the following statement:
"The Board is pleased to report that the Group has made a good start to the financial year, with like-for-like order intake up 2.9%for the 16 weeks ended 18 November 2017, and two-year like-for-like orders up 8.0%. 
The core ScS business has continued to perform well, with like-for-like order intake up 3.6%, and two-year like-for-like orders up 7.9%. 
Our House of Fraser concessions, which represented 6.2% of Group order intake in the period, have seen like-for-like orders decline 6.4% against very strong comparatives, with two-year like-for-like orders up 10.0%. 
We remain on schedule to open a new store in Chelmsford on Boxing Day 2017. The Group will then trade from 101 ScS stores and operate 27 House of Fraser concessions.
Whilst it is still early in the current financial year, the Group continues to trade in line with our expectations. We believe the Group's increasing resilience and value proposition will enable us to manage the continued economic uncertainty and take advantage of opportunities."
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Enquiries:
ScS Group PLC
David Knight, Chief Executive Officer
Chris Muir, Chief Financial Officer
c/o Buchanan +44 (0)20 7466 5000
Buchanan
Richard Oldworth
Madeleine Seacombe
Tel: +44 (0)20 7466 5000
scs@buchanan.uk.com
Shore Capital
Ed Matthews
Patrick Castle
Tel:+44 (0)207 4084050

This information is provided by RNS
The company news service from the London Stock Exchange
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