StockMarketWire.com - Furniture and flooring retailer ScS said it had delayed the release of its interim results, but expected to swing to a loss.

The results release was subject to a 'short delay', which the company pinned on 'yesterday's changes to the UK government policy in relation to the COVID- 19 virus'.

ScS said it expected to release the results by the end of the week.

Highlights, it said, would include a 0.5% rise in gross sales to £160.1m and 0.3% rise in gross profit to £71.7m.

First-half pre-tax losses would amount to £0.6m, including adjustments for the introduction of IFRS 16 accountancy measures. That compared to a £0.5m profit on-year.

ScS said it would hold its interim dividend steady at 5.5p per share.

Order intake had risen 3.3% on a like-for-like basis for the first seven weeks of the second half to 14 March.

ScS said it was mindful of the developing situation with the coronavirus outbreak and had seen a related reduction in footfall in the past week.

'Whilst consumer confidence remains low, the group has been successful in sustaining profitable growth and increasing its resilience,' chief executive David Knight said.

'Trading in the early part of the year was particularly challenging. '

'However, the improvement and return to growth seen over the key winter sales period and for the first six weeks of the second half was encouraging.

'In the past week we have seen reduced footfall and we are mindful of the developing situation with COVID-19 and the potential impact on deliveries and demand.'

'However, we believe the group is as well positioned as it can be.'




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