SCS Group reports sales growth across all areas

Sunderland based retailer SCS Group reported a rise in its net profit on Tuesday as its preliminary results showed an increased sales density at its furniture and flooring stores.

SCS said gross sales had improved 4.4% in the year ended 29 July to come in at £349.5m.

Revenue improved 4.9% to £333m, thanks in part to a 12.3% increase in online gross sales that saw SCS finish the year with £11.3m generated from web-based business.

The firm posted an 8.4% gain in EBITDA to £17.4m thanks to an 8.8% bump in operating profits to £12m.

SCS said sales order intake was up 3% on a like-for-like basis over the 9 weeks since the reporting period ended and was trading in line with expectations.

David Knight, chief executive officer of SCS said, "We are delighted to be reporting continued sales growth across all areas of the Group for the third year in a row. The core SCS business has continued to focus on providing excellent choice, value and quality for our customers, and I am pleased to see this delivering record results in furniture and flooring sales."

Earnings per share grew from 21.8p to 23.5p over the period.

As of 1120 BST, shares had ticked up 7.61% to 171.50p.