Nick Scali (ASX:NCK) record result

Company News

Up market furniture retailer Nick Scali (ASX:NCK) has posted a record half yearly profit, but believes a continuance of strong results in the second half will depend on interest rates and further volatility in the global economy.

Net profit after tax was $6.3 million, and before tax it was $8.9 million, which was 146% above the same period last year.

Nick Scali Directors say they’re extremely pleased with the result and believe that depending on whether the economic recovery is sustained for the rest of the year, the expectation is for a full year after tax profit of around $10 million.

Nick Scali posted a 2009 profit of $4 million.