Sunderland's ScS delays results as bosses analyse coronavirus advice
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The firm was due to announce its interim results on Tuesday, March, 17, but has put the release back.
A company statement said: “This is as a result of changes to the UK government policy in relation to the COVID- 19 virus, which we are currently reviewing in conjunction with the Group's auditors.
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Hide Ad“The company expects to be able to release its full interim results before the end of the week.
“We cannot predict the impact that COVID-19 might have on the group’s business. Management has considered severe but plausible downside sensitivity scenarios but these do not include the most severe of possibilities, for example, the group’s stores being forced to close for a prolonged period.
“We are mindful of the developing situation with the coronavirus (COVID-19), and the potential impact on deliveries and demand.
“Further details in relation to the impact COVID-19 may have on the group will be set out in the interim financial statements.
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The firm did announce some details of the results, including a 0.5% increase in gross sales and 0.3% rise in gross profit .
Chief executive David Knight said: “Trading has strengthened since our market update on 29 January 2020, with like-for-like order intake in the last seven weeks growing 3.3%.
“This is a significant improvement on trading for the first 26 weeks of the year, which had a like-for-like order intake decline of 4.4%. This has resulted in a like-for-like order intake decrease of 3.0% for the 33 weeks ended 14 March 2020.
“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.
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Hide Ad“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.”