ScS has hailed its “increased resilience” to “challenging” trading conditions after posting an increase in full-year profitability.
The furniture specialist said EBITDA climbed 8.1% to £18.8m in the 52 weeks to July 28.
Operating profit rose 10.5% to £13.2m on gross sales of £352.3m, which were broadly flat year on year.
ScS said the “downturn” in sales in its House of Fraser concessions had been “more than offset” by growth in its core business.
Like-for-like orders edged up 0.2% across the 12-month period and online sales surged 22.6% to £13.8m. Gross margins improved 7bps to 44.7%.
The retailer added that it has continued momentum since the year end, with like-for-like orders increasing 2.1% in the nine weeks to September 29.
It said overall trading during that period had been “pleasing” and “in line with the board’s expectations”.
ScS chief executive David Knight said: “2018 has been another strong year. Despite a prolonged period of economic uncertainty and challenging trading conditions, we have continued to grow the business.
“I believe this is due to our continued focus on what we do best – ensuring that we offer an excellent customer experience with outstanding value, quality and choice.”
Knight added: “Since the start of the current financial year, the overall trading performance of the group has been in line with our expectations.
“Due to the ongoing changes at House of Fraser, trading within our concessions, which represented 7.1% of FY18 gross sales, remains challenging and we are working with the new owners to address this as a priority.”
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