Nick Scali had its AGM today and the NCK SP took off, currently...

Nick Scali had its AGM today and the NCK SP took off, currently up 10% today.

Here is what Anthony Scali said...

I will now turn your attention to recent trading. In the four months to the end of October sales revenue was $194 million, reflecting a continuation of the record deliveries achieved in the fourth quarter. This has been a tremendous achievement by our distribution teams which demonstrates the operational capacity in the business to support future volume growth. October year to date sales revenue is 74% above the same period in the prior year, which was before the Plush acquisition in November 2021. Group margin for the four months improved 180 basis points to 61.3% versus the 59.5% reported for the second half of FY22, following the Plush acquisition in November 2021. We expect gross margin to continue to improve over FY23 with further realisation of the Plush synergies. Group written sales orders for the four months were $148 million, 55% above the prior year, with the strongest trading months being July and October. Nick Scali brand written orders were 21.7% above the first four months of the prior year and 35% above the pre Covid 19 FY20 year.

This bodes well for the Adairs recently acquired business Focus-On-Furniture.

Cheers.....D