SUY Scs Upholstery

    RNS Number : 3725U
  ScS Upholstery PLC
  14 May 2008
   

 For Immediate Release   14 May 2008

    SCS UPHOLSTERY PLC

    INTERIM MANAGEMENT STATEMENT 

    ScS Upholstery Plc ("ScS"), the specialist sofa retailer, issues the following update on current trading.

    Since our interim results on 26 March 2008, trading has remained challenging.  
    Like for like sales order intake for the 8 weeks up to and including 10 May 2008 is down by 14%. The bank holiday weekend in isolation
was particularly disappointing with like for like sales order intake down 20% and total sales order intake down 19%. 

    Like for like sales order intake for the 41 weeks of this financial year are down 15% and total sales order intake down 11%.

    Based on this bank holiday performance and the continuing difficult market conditions the Board expects that the profit for the second
half will be reduced and will therefore result in the full year being below current market forecasts.

    As announced in January, we were committed to open one new store in this current financial year; this store was opened in Llanelli,
Wales on 1 May. 

    Cash as at 10 May 2008 is £4.8 million, having paid all of our suppliers the previous week. The Board continues to focus on cost
efficiencies and prudent cash management.



    For further information, please contact:

    ScS Upholstery
    David Knight              0191 5146054

    Buchanan Communications  
    Richard Oldworth   0207 4665000
    Nicola Cronk



This information is provided by RNS
The company news service from the London Stock Exchange
 
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