Also on Tuesday, furniture retailer Nick Scali Limited (ASX: NCK) announced its half year results, reporting a net profit after tax (NPAT) of $20.5 million, a 45% increase on the prior corresponding period. This is well ahead of the upgraded guidance of 30-35% growth provided in November. The Company said the result was driven by a 15.5% increase in sales revenue to $118.4 million. We believe the Company will continue to win market share through successful new store launches. Shares in NCK closed up 9% for the week. We own Nick Scali as a research-driven investment in WAM Capital and WAM Research.
Chris is the Chief Investment Officer of Wilson Asset Management, having joined the company in 2006. He is also the Portfolio Manager responsible for WAM Capital (ASX:WAM), WAM Research (ASX:WAX), WAM Active (ASX:WAA) and WAM MicroCap (ASX:WMI).