NCK is one of the best retailers in Australia with a superior ROE. It has not asked shareholders for any additional capital over the last 10 years.
The additional procurement synergies following on from the Plush acquisition is a real win and looks to be a permanent positive step change in gross margin.
The development of some owned stores and logistics centre's is a form of insurance against rampant store rental increases.
Congratulations to the entire Nick Scali and Plush teams for a really good result.
Ann: Full Year Results Announcement NCK, page-4
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