Nick Scali in profit surge
FURNITURE retailer Nick Scali has lifted full- year profit 42.4 per cent to a record $ 37.2 million, on the back of strong sales and an expanding network. Revenue for the 12 months to June 30, was up 14.7 per cent at $ 232.9 million, helped by the opening of four stores during the financial year bringing the company’s national total to 51.
The furniture retailer and importer has declared a fully franked final dividend of 20c per share bringing the total dividends for the year to 34c per share, compared to 23c the previous year.
Looking ahead, the company flagged uncertainties across the influential housing market, in consumer confidence and potential interest rate rises as likely headwinds to sales growth.