SUY Scs Upholstery

RNS No 0171x
SCS UPHOLSTERY PLC
2nd February 1999

  
                     ScS Upholstery plc
             ANNUAL GENERAL MEETING STATEMENT

   PROFITS ON TRACK DESPITE CHALLENGING MARKET CONDITIONS

ScS Upholstery plc, the fully listed furniture retailer, held
its Annual General Meeting at 12 noon today.

Regarding current trading and outlook Tony McCann, Chairman, told
the meeting:

"Total Group sales order intake, for the first 17 weeks of the
current year, was 21% ahead of the same period last year. Like for
like sales order intake was 14% down when compared with an excellent
period last year which had benefited from Building Society
windfalls.  The like for like comparisons relate to seven old
format stores and five new format stores, representing only 68%
of the Group's current retail area. Of these stores the old format
were 21% down and the new format 9% down on last year. Trading in
the four weeks since Christmas has shown an improvement with like
for like sales order intake down only 10%. Gross profit margin has
been maintained throughout the whole period.

The Group's latest new store opened in Nottingham on Boxing Day
and has performed  to expectations. We continue to be highly
selective in our choice of locations for new stores and have
identified a significant number of potential new sites. However,
despite our best efforts, factors outside of our control may
delay future openings until the early part of the next financial
year.

The current year will include a full year's contribution from the
four stores opened in the second half of last year, as well as a
small contribution from our recently opened store in Nottingham.

In conclusion, our balance sheet is strong, our cash flow and gross
margin remain good, and despite challenging market conditions your
Board is confident that the Group will make further progress during
the remainder of this financial year."

Contacts:

ScS Upholstery plc              0191 514 6055
Mike Browne, Chief Executive
or
Buchanan Communications         0171 466 5000
Richard Oldworth/Tom Gadsby
ScS Upholstery plc


END

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