Sales up for UK upholstery manufacturer
The UK leather and fabric furniture retailer ScS has announced that on a like-for-like basis, sales in the first 31 weeks of the year were up 4% on the same period last year.
In the six months to March 31 2001, the company earned pretax profits of £3.8 million ($5.4 million) - up 47% on the same period the year before. Earnings per share increased 48% to 8.5 pence and the board raised the interim dividend 43 pct to 2 pence.
The announcement follows on from the opening on 12 new stores within the last 12 months and an increase of 60 pct in selling space. The group currently has 34 stores and expects to open at least a further three stores over the remainder of this financial year in Wakefield, Cheltenham and Blackburn.
Commenting on the figures, chairman Tony McCann said: "We believe the ScS formula will enable the company to maintain its strong track record and realise its excellent growth potential, expanding to over 70 stores within the next five years."
