SCS Group says FY results to meet market expectations

Furniture retailer SCS Group said it expects full-year results to be in line with market estimates as it reported a jump in like-for-like sales.

In a trading update ahead of its preliminary full-year results in October, the company said it expects to report profits in line with current market estimates. SCS said momentum has continued since the update on 9 June, with total like-for-like sales order intake up 14.8% for the 53 weeks ended 30 July.

In addition, the group announced the refinancing of its debt facilities, saying it has extended the maturity of its committed £12m bank facility to October 2018. It has also been renegotiated at a lower margin.

Chief executive officer David Knight said: “We are delighted that trading was strong throughout the EU referendum campaign and has continued since the vote with progress on a like for like basis in all retail categories. We are also pleased to have completed the refinancing of our bank facility."

At 1440 BST, shares were up 4.6% to 158p.