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Retail

ScS Group wary over supply chain and inflation pressures

ScS posted a profit of £22.7mln against a loss of £3.1mln in the year to end July

ScS Group PLC (AIM:SCS) said the orders boost from the ending of the first lockdown has faded though they are still well ahead of this time two years ago.

Steve Carson, chief executive, added he was also "cognisant of the ongoing challenges we, and many other businesses, are facing with regards to the supply chain, including driver shortages, raw material increases and shipping costs and delays.”

Orders in the nine weeks to 2 October 2021 at the sofas and carpets group have dropped 21% from a year ago, which benefited from a pent-up rush from May. but remain 11.9% ahead of 2019.

Carson added that trading since the start of the new financial year had remained strong and he was delighted with the level of orders.

ScS posted a profit of £22.7mln against a loss of £3.1mln in the year to end July 2021 on revenues up 22% at £311mln.

Profits included a £10.2mln benefit from business rates relief though £3mln of furlough grants were repaid.

A 7p final dividend took the total payment to 10p, while ScS ended in the year with cash of £87.7mln.

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