ScS has hiked up profit expectations after a strong year of trading but warned that the cost-of-living crisis is now affecting the business.
The furniture retailer reported a 3.9 per cent increase in orders in the year to 30 July, compared with the previous year.
The firm, which specialises in soft furnishings and flooring, currently trades from 98 stores as well as its growing online channels. The firm announced positive trading, a strong cash position and effective cost management in a full-year trading update.
It said the group now expects to report full-year profit for the 52 weeks ended July 30 to come in ahead of market expectations. At the year-end it also said the group’s order book was £71.7m – £28.8m higher than at the same point in 2019 but £31.8m lower than the same time last year.
However, SCS said the cost-of-living was starting to affect footfall and orders, and said it was braced for the low customer confidence to affect group performance in the current financial year.
