NCK +6.89%: Strong session for the furniture retailer after they reported full-year results that showed gaining momentum in sales orders into FY26.
- Revenue $495.3 million, +5.8% y/y
- Underlying profit $62.0 million, -24% y/y
- Final dividend per share A$0.33 vs. A$0.33 y/y
The FY25 was inline with expectations, however it was a great outcome given a more challenging start the year. Earnings were lower due to their loss making (new) UK roll-out, however the key to the share price was an upbeat trading update for FY26 which should only improve with the improving Australian housing cycle.
MM remains long & bullish NCK
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