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Nick Scali profits double to $84.2m
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Pre-tax profit $121.2m, up 101.5pc
Net profit $84.2m, up 11.2pc
Final dividend 25¢, v 22.5¢, payable October 25
Furniture retailer Nick Scali said it was well placed to deal with an uncertain retail outlook after doubling net profit to $84.2 million in the year ended June, beating the guidance issued only three months ago.
The result exceeded market consensus forecasts of around $80 million and was at least $4 million higher than the retailerâs May guidance of between $78 million and $80 million.
It was underpinned by a 42.1 per cent increase in revenue to $373.04 million, higher gross margins and well-controlled costs, and was achieved even after Nick Scali repaid $2.5 million in net JobKeeper subsidies received in the December half.
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