Nick Scali ups final dividend, profits fall

Throughout the 2022 year the retailer faced a number of significant challenges, with over 55 per cent of its store network closed for three months in the first half of the year and widespread disruption to its supply chain in the second half of the year.

Chief executive Anthony Scali called the year particularly challenging with lockdowns, but the company was able to deliver a strong result and end the year with a significant order bank which will translate to revenue this new fiscal year. July trading so far was positive, with total written sales orders for the group of $43.2 million, up 64.1 per cent on July 2021, he added, but also noted that potential rising freight costs and inflationary pressure on operating costs over the following two years will weigh on the group.

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