NCK -0.08%: The furniture retailer reported a strong FY21 result today with sales of $373m producing a net profit after tax of $84.2m, above the $79.2m expected and ahead of company issued guidance of between $78-80m. The FY21 profit compares well to FY20 of $40.08m with the beat being very customary for NCK (i.e. they always under promise and over deliver so the market now expects it). All key metrics were strong, Gross Margins of 63.5% were very solid and it’s hard to fault the result. No guidance issued given uncertainty which again, has become typical of NCK.
MM are neutral NCK around $12
Add To Hit List
