Australian home furnishing retailer Nick Scali Ltd. said Feb. 7 that the company's directors declared a fully franked interim dividend of 16 Australian cents per share, payable March 28. The dividend is higher than the dividend of 14 Australian cents per share for the previous corresponding period.
The company also expects net profit after tax for fiscal year 2018 ending in June to be 5% to 10% higher than the corresponding period in 2017. Fiscal year 2019 is also projected to benefit from the company's store network increase in 2018.
Revenue for the first half of fiscal 2018 ended Dec. 31, 2017, came in at A$128.0 million, up 8.1% from A$118.4 million in the first half of fiscal 2017.
Nick Scali's earnings per share for the first half of 2018 also increased 15% to 29 cents from 25.2 cents.
The company attributed the profit growth to higher sales, which resulted from store network expansions in fiscal year 2017.
