Nick Scali doubles full-year profit

Furniture trader Nick Scali has doubled full-year profit, benefiting from many Australians spending on their homes during the pandemic.

The company had net profit after tax of $84.2 million, which bettered its May forecast of as much as $80 million.

Sales rose by 42.1 per cent on the previous financial year to $373 million.

Shareholders will receive a final dividend of 25 cents per share. This is more than last year’s final payout of 22.5 cents per share.

On the ASX, shares were down 0.49 per cent to $12.26 at 1108 AEST.