BUZZ-Australia's Nick Scali hits record high on HY profit, dividend beat

Reuters
02-07
BUZZ-Australia's Nick Scali hits record high on HY profit, dividend beat

** Shares of Nick Scali NCK.AX rise as much as 12.3% to an all-time high of A$18.300

** Furniture retailer posts HY statutory NPAT of A$30 million ($18.84 million), 15% ahead of Visible Alpha consensus estimate

** Declares interim dividend of 30 Australian cents per share, beating consensus estimate of 24.2 Australian cents

** Co, however, says trading continues to be volatile for its Australia and New Zealand division, with written sales orders down 8.5% in January

** Market is likely to look through softening top line ANZ trends, given broader medium term macro outlook appears to be improving - Citi

** As of last close, NCK up 8.5% YTD

($1 = 1.5921 Australian dollars)

(Reporting by Himanshi Akhand in Bengaluru)

((Himanshi.Akhand@thomsonreuters.com;))

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