Nick Scali Limited (ASX:NCK) has reported strong financial performance for FY24, driven by a gross margin increase to 66% across its Australian and New Zealand operations. However, the company has issued a profit warning, highlighting increased freight costs expected to impact first-half results for FY25.
Managing Director Anthony Scali confirmed the company’s global ambitions following the acquisition of Fabb Furniture in the UK. “We are aligning the UK business with our model, with plans to expand the store network,” he noted. Despite early challenges, UK sales have been encouraging, with 1Q25 sales of $17.8 million.
Nick Scali’s growth strategy remains on track with two new stores planned for Australia in FY25, alongside up to five Plush showrooms.