Revenue ($m): 180.3, up 5.4 per cent from year-earlier 171.1
Pre-tax profit ($m): 48.3, down 16.4 per cent from year-earlier 57.8
Net profit ($m): 33.6, down 17.32 per cent from year-earlier 40.6
Interim dividend: 35¢, payable March 28
Furniture retailer Nick Scali says soaring shipping costs are likely to be a drag on profits in the June half even though orders for sofas have jumped, and shoppers regained confidence in late January as they started to venture out more in the omicron wave of the pandemic.
Chief executive Anthony Scali said the group sources about 40 per cent of its furniture from Vietnam, which was hit by lockdowns last year as its government tried to combat COVID-19.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
