More in store for Nick Scali
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.
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Chris was the Chief Investment Officer of Wilson Asset Management, having joined the company in 2006. He was also the Portfolio Manager responsible for WAM Capital (ASX:WAM), WAM Research (ASX:WAX), WAM Active (ASX:WAA) and WAM MicroCap (ASX:WMI).