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CEO of Sunderland’s ScS commends national brand strength following sales rise to almost £150m

Sunderland-based ScS has reported a strong rise in sales and turnover to reduce its loss before tax by almost £10m.

One of the UK’s largest retailers of upholstered furniture and floorings, the firm today revealed a positive set of half year results for the 26 weeks ended 23 January 2016, as hoped in January earlier this year.

Total gross sales increased from £132.0m to £145.4m, an increase of £13.4m or 10.2%, and gross profit increased from £57.3m to £64.8m, an increase of £7.5m or 13.0%.

Moreover, revenue increased from £125m last year to £137.7m for the same period. ScS’ operating loss hasnow been reduced to £3.4m, almost £10m down from £13.1m last year.

The firm says that this is in line with expectations and that it has good visibility over H2, a result of a strong sales order intake.

Other highlights during the period included a 9.1% rise in like-for-like sales orders whilst Scs also opened a new Bromborough store, taking its total number of sites to 97.

David Knight, Chief Executive Officer, said: “We are delighted to be reporting significant growth across all areas of the group in the first half of the current financial year.

“These results demonstrate the progress that has been made 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 improving online platform.

“Looking to the future, we are excited about our growth prospects, including the continued growth from our concession agreement with House of Fraser, our flooring offering and online proposition.”

He added: “We continue to identify new store opportunities for further growth within our target areas. The Group’s cash flow dynamics and committed bank facilities underpin the strong financial position which will support our ambitions for future growth and deliver value for our shareholders.”