Nick Scali Limited Reports Earnings Results for the Half Year Ended December 31, 2016
February 13, 2017 at 03:58 pm EST
Share
Nick Scali Limited reported earnings results for the half year ended December 31, 2016. For the period, the company reported revenue from sale of goods of AUD 118,369,000 compared to AUD 102,459,000 a year ago. Profit before income tax expense was AUD 29,205,000 against AUD 20,240,000 a year ago. Profit after income tax expense for the year attributable to the owners of the company was AUD 20,451,000 against AUD 14,131,000 a year ago. Basic and diluted earnings per share were 25.2 cents against 17.4 cents a year ago. Net cash from operating activities was AUD 18,225,000 against AUD 9,456,000 a year ago. Purchase of property, plant and equipment was AUD 4,113,000 against AUD 17,995,000 a year ago. Total revenue was AUD 119,052,000 against AUD 103,059,000 a year ago. Profit growth was driven by a 15.5% increase in sales revenue. The higher sales resulted from same store sales growth of 10.1% and the contribution from the opening of new stores. EBITDA was AUD 30,480,000 against AUD 21,135,000 a year ago. EBIT was AUD 29,027,000 against AUD 19,990,000 a year ago. Net tangible assets per ordinary security were 78.96 cents against 62.94 cents a year ago.
Nick Scali Limited is a furniture retailer operating in Australia and New Zealand. The Company is engaged in the sourcing and retailing of household furniture and related accessories. Its sofas and armchairs collection include recliner sofa collections, leather sofa collections, fabric sofa collections, occasional armchairs, and others. Its living room collections include TV and entertainment units, coffee tables, side tables, console and hallway tables, and others. Its dining room collections include dining tables, dining chairs, and buffet tables and sideboards. Its bedroom collections include mattresses, bedframes, bedside tables, and dressers, among others. Its rugs and accessories collections include rugs and mirrors. It imports more than 5,000 containers of leather and fabric lounges as well as dining room and occasional furniture. The Company has stores located in New South Wales, Queensland, Victoria, Tasmania, South Australia, Western Australia, and others.