ScS Group sees FY profit ahead of market views

Upholstered furniture and floorings company ScS Group has completed a hat-trick of upbeat trading statement this year, its latest stitching in the prospect of full-year profits ahead of market views.

Shares in the company were up more than 8% on the news.

Chief executive David Knight said trading through the two key May bank holidays beat the ScS' initial expectations.

Total like-for-like (LFL) sales-order intake increased to 14.6% for the 45 weeks ended 4 June.

"As a result the group expects to report profits ahead of current market expectations, which have already been significantly upgraded during the current year," he said.

The outfit has rolled out two positive trading updates already this fiscal year.

In January, it reported total LFL sales-order intake up 8.8% for the 25 weeks to 16 January. In April, it noted LFL sales-order intake up 12.0% for the first 37 weeks of the year.