NATIONAL sofa retailer ScS has announced a boardroom reshuffle as it revealed a 42 per cent rise in pre-tax profits.

Sunderland-based ScS, which has 41 stores nationwide, has promoted managing director David Knight to the post of chief executive, with effect from January, while current chief executive, Mike Browne, will become deputy chairman from next year and chairman in the following year.

Mr Browne said: "I'm delighted that David has been promoted to chief executive. He has been with the company for 14 years and has worked his way to the top.

"David has played a key role in our growth and this is a reward for the success he has brought to ScS".

ScS, which plans to open its 42nd store in Southampton on Boxing Day, opened six stores in the course of the year. It has already opened four stores in the first half of the new financial year.

The new openings are part of sustained expansion by the group, which has doubled the number of stores it operates in the past two years. It now employs more than 600 staff across the UK.

ScS saw pre-tax profits rise 42.6 per cent to £7.7m in year to September 30, on record turnover of £72.5m, a rise of 56.2 per cent.

David Knight said: "This has been a year of both growth and consolidation producing an excellent financial result.

"As forecast we have opened six stores in the year whilst maintaining strong margins and producing a record profit.

"The group's expansion towards a national presence has emphasised our position as one of the leading retailers in our sector. Furthermore we have already opened four new stores in this new financial year with up to six more planned to be opened before the end of the financial year.

"The outlook for the group remains strong and the board is confident of reporting another record year."

Shareholders in the group will receive a total dividend of 7.8p per share, a 44.4 per cent rise on the previous year.