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Nick Scali Limited’s Profit Just Increased By 15%

Nick Scali Limited (ASX: NCK) has reported its profit for the six months to 31 December 2017.
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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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Today, Nick Scali Limited (ASX: NCK) revealed its financial results for the six month period to 31 December 2017.

Nick Scali was founded in 1962. It sources its furniture products from around the world and imports from some of the most respected global manufacturers. It now claims to be one of Australia’s largest importers of quality furniture.

The results below are comparing against the six month period to 31 December 2016. Here are some of the main points:

  • Sales increased by 8.1% to $128 million
  • Day to day profit, or EBITDA, increased by 16.7% (what the heck does EBITDA mean?)
  • Profit per share increased by 15%
  • Dividend per share increased by 14.3%
  • Store numbers grew by 6 to 52, including the first in New Zealand located in Auckland

Nick Scali said that sales were good in December but January sales at stores had declined a little. The furniture company is expecting cosy profit growth of between 5% to 10% this year compared to last year. Management expect better growth in future years as they open more stores in Australia and New Zealand.

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