Nick Scali Limited (ASX: NCK), a furniture retailing company, reported excellent results for the financial year 2019, with a seventh consecutive year of profit growth and record sales of $268 million- an increase of 7% on the financial year 2018. Amid the challenging environment, the result was driven by continued store rollout program, allied to improvements in gross margin and relatively low fixed cost base.
- The company declared a fully franked final dividend of 20 cents per share, bringing the total dividend for FY19 to 45 cents and the dividend payout ratio to 87%;
- The company is well paced to continue the expansion of the store network in the current financial year, with four stores expected to open in FY20.
At AEST 01:18PM, the stock was trading at $6.380, up by 2.4% from its previous close.
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