Strong results from contributor favourites
In last week’s Buy Hold Sell Thematic discussion, Ben Rundle from NAOS Asset Management and Chris Stott from Wilson Asset Management identified MNF Group and Nick Scali, respectively, as stocks they liked coming into reporting season. Ben Rundle called his “favourite stock,” and it’s not hard to see why with NPAT up 21% from revenue growth of 9%. Chris Stott thought Nick Scali would “report quite well,” which seems to have been conservative in hindsight. Revenue was up 15.5% on the back of same-store-sales growth of 10.1%. Nick Scali again displayed their operating leverage, with NPAT up 44.7%. Income-seeking shareholders at both companies should be pleased, with Nick Scali raising its interim dividend by 55.6%, and MNF Group raising its interim dividend by 7%. Nick Scali opened up 11.2% this morning, while MNF Group is mostly flat at -0.6%. You can access the original content here: (VIEW LINK)
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Patrick was one of Livewire’s first employees, joining in 2015 after nearly a decade working in insurance, superannuation, and retail banking. He is passionate about investing, with a particular interest in Australian small-caps.
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