ScS (LON:SCS) shareholders were sitting pretty after the sofas seller reported a strong Christmas and upped its profits guidance.
In the 25 weeks to 16 January the retailer reported a like-for-like increase in order intake of 8.8% from a year earlier, despite what it described as “touch comparatives”.
As a result of strong trading over the Christmas period and January sales, it expects to report full-year profits significantly ahead of current market expectations.
“Whilst we still have key trading periods over Easter and the two May bank holidays in the current financial year, we are delighted with the performance over the Christmas and January sales period and for the year to date," said David Knight, the chief executive officer of ScS.
Shares plumped up nicely in morning trading, rising 22.8% to 187.22p and are more or less back to the level they were at a year ago.