Company News Summary | 06 Feb 2019

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Nick Scali Announces Half Yearly Report and Accounts

09:19:00 | Associate analysts

Original annuncemenet:Half Yearly Report and Accounts

Nick Scali announced half yearly report and accounts. It reported a record net profit after tax of $25.4m for the half year to 31 December 2018, an increase of 8.0% on 31 December 2017. Sales revenue increased 10.3% to $141.1m with the increase derived from a full year's contribution from the six stores opened during 2018 and a smaller contribution from four stores opened during half year 2019. Further the operating expenses as a percentage of sales increased by 90 bps to 36.1% due to the timing of new store openings and inflationary cost increases in stores with flat sales growth.

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