Record profits for Nick Scali, but retailer warns of slide in orders
Carrie LaFrenzSenior reporter
Key Points
- Why it matters: Nick Scali results point to renovator and builder sentiment
- While the company’s profits rose, orders in the last six months were down
- Nick Scali will pay a final dividend of 35¢ per share, in line with a year ago
Nick Scali boss Anthony Scali says he is bracing for a tougher year ahead, warning that consumers are “very cautious” and spending on big-ticket items such as sofas is coming under pressure.
He did not provide any firm full-year guidance for the new financial year but flagged that July orders fell 8.1 per cent from strong sales in July last year to $39.7 million.
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