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ScS FY20 sales dip 19.5% to £256 mn
22 Oct '20
1 min read
Pic: ScS
ScS, one of the UK’s largest retailers of upholstered furniture and floorings, has announced its full year results for fiscal 2020 ended on July 25. Company’s revenue slipped 19.5 per cent during the year to £255.5 million compared to the sales of £317.4 million in the previous year. ScS incurred a loss after tax during FY20 of £2.2 million (£1.4 million).
Gross profit for FY20 was £119.5 million (£149.9 million). Operating profit was £0.7 million compared to the operating loss of £1.5 million in FY19. Company’s loss for the year was £2.2 million compared to profit of £11.3 million during FY19.
“We are delighted with the strong trading since the start of the new financial year. However, we are now entering our key autumn trading period and it remains difficult to predict the potential impact of the increased economic uncertainty, including the cessation of the government's Coronavirus Job Retention Scheme at the end of October,” David Knight, chief executive officer of ScS, said in a press release.
Fibre2Fashion News Desk (JL)
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