Australia's Nick Scali falls on lower FY profit

Nick Scali

09/08/2024 02:16

** Shares of Nick Scali  NCK.AX  fall as much as 6.8% to
A$13.81, their lowest since July 16
    ** Stock posts its biggest intraday pct fall since Nov 23
    ** The furniture retailer says FY profit attributable fell
20.3% to A$80.6 mln ($53.08 mln)  
    ** Adds trading is expected to deteriorate further in the
first half of FY25 for the UK business as disruption increases
due to store refurbishments and change in the product range
    ** About 336,826 shares change hands, compared with the
30-day average volume of 291,346
    ** Stock has risen 20.3% this year, as of last close

   ($1 = 1.5184 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))