ScS Group PLC (LON:SCS) saw its shares jump today after it reported a 10% jump in full year profits thanks to continued sales growth and implementation of various cost-saving initiatives by the carpet and furniture retailer.
The FTSE Fledging firm also said that trading since the start of the new financial year has been in line with its expectations, with 3% growth in same-store sales for the nine weeks to September 30.
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For the year that ended July 29, the retailer posted a pre-tax profit of £12.0mln, up from £10.9mln a year earlier, a revenue rose by 4.9% to £333.0mln, up from £317.3mln.
ScS ended the year with 100 stores and 27 concessions within House of Fraser stores.
David Knight, ScS’s chief executive officer said “we believe the Group's increasing resilience will enable us to manage the continued economic uncertainty and take advantage of opportunities."
The group is paying a final dividend of 9.8p, giving a total full year payout of 14.7p a share, up from the 14.5p paid a year earlier.
By late afternoon trading, ScS shares had gained nearly 7.5%, or 11.88p at 171.25p.