Nick Scali sitting comfortably
On Thursday, furniture retailer Nick Scali (ASX: NCK) reported its full year results. Net profit came in at $26.2 million, which exceeded market expectations of $25.2 million. As a comparison, Nick Scali upgraded their profit guidance in May this year to $24-26 million from $22-24 million in February. Management cited 11.1% like for like sales growth for the year and pleasingly they improved their margins even with the fall in the Australian dollar. Going into the new year, management indicated they are aiming to open five to six new stores. Shares in Nick Scali closed up 19.4% for the week. We own Nick Scali as a research driven investment in WAM Capital and WAM Research.
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap (ASX: WMI), WAM Alternative Assets (ASX: WMA), WAM Strategic Value (ASX: WAR), WAM Research (ASX: WAX) and WAM Active (ASX: WAA) - and the Wilson Asset Management Leaders Fund. Wilson Asset Management invests over $5 billion on behalf of more than 130,000 retail investors. Wilson Asset Management created and is the lead supporter of the first LICs to deliver both investment and social returns: Future Generation Australia (ASX: FGX) and Future Generation Global (ASX: FGG).
1 stock mentioned
Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap...
Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap...
Comments
Comments
Sign In or Join Free to comment
most popular
Equities
Bizarre: The $11m microcap sitting on a $21m cash pile
Livewire Markets
Fixed Income
Why every fixed income portfolio needs a FI-RV allocation
Antarctica Asset Management