Australia's Nick Scali hits over 4-month low on delivery delays

Nick Scali

19/11/2024 23:56

** Shares of Nick Scali  NCK.AX  fall as much as 2.7% to
A$13.700, their lowest since July 12
    ** Furniture retailer says one of its freight forwarders is
facing operational issues and is now under the administration of
a liquidator
    ** Co says port delays, disrupting product delivery in
Australia, along with unexpected costs, pose risks to its
projected NPAT for Australia and New Zealand in 1H FY25
    ** Says it has obtained court orders for the release of
containers and is now working to deliver goods
    ** Stock posts its biggest intraday pct fall since Oct. 22
    ** Stock up 13.6% YTD, including current session moves

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