Sofa giant ScS is sitting pretty
FURNITURE FIRM REPORTS GROSS SALES UP MORE THAN 10% IN LAST SIX MONTHS
Sunderland sofa giant ScS saw gross sales leap by more than 10% in the last half-year.
The firm’s interim results for the 26 weeks to January 23 show gross sales up 10.2% to £145.4million, and total sales order intake up 9.1% on a like-for-like basis.
Gross profit increased 13% to £64.8million and earnings before interest, taxes, depreciation, and amortisation improved by £2million to £1million. Operating loss was down from £5.3million to £3.4million.
Gross sales in the firm’s concessions in House of Fraser stores were up by more than 18% and online gross sales by more than 17%.
Chief executive David Knight was delighted with figures and said the firm was “absolutely totally” committed to its Sunderland base.
“There are about 150 people working at head office now,” he said. “We have got our online sales centre there.”
“The firm was reaping the benefits of heavy investment in promotion and advertising.
“We spend more in the first half of the year, so these figures could have been even better. We spend a lot of money in the first half of the year, for which we only see the results in the second half.
“But we are really, really pleased with these results. We have good growth and we are trading very strongly.”
The results showed how much progress had been made in developing ScS into a strong national brand, he said.
The group now had three very clear offers for customers upholstered furniture, flooring and the House of Fraser concessions, as well as improving its service online.
“Our sales order intake is the highest ever achieved in this period and is up 9.1% on a like-for-like basis,”said Mr Knight.
“Current trading remains strong with like-for-like sales orders up 12.0% for the first 37 weeks of the financial year, including the key Easter sales period.
“This gives us good visibility for the second half and the board expects results for this year to be modestly ahead of market expectations.”