Nick Scali Ltd (ASX:NCK)
A$ 13.28 0.05 (0.38%) Market Cap: 1.13 Bil Enterprise Value: 1.36 Bil PE Ratio: 12.88 PB Ratio: 5.60 GF Score: 92/100

Half Year 2020 Nick Scali Ltd Earnings Call Transcript

Feb 05, 2020 / 11:30PM GMT
Release Date Price: A$7.22 (-0.14%)
Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Nick Scali Limited Fiscal Year 2020 First Half Results Announcement. (Operator Instructions) I must advise you that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Nick Scali Chief Executive Officer and Managing Director, Anthony Scali. Thank you. Please go ahead.

Anthony J. Scali
Nick Scali Limited - MD & Executive Director

Good morning. We will start on Page 2 of our results presentation in terms of results overview. The half year '20 highlights were sales were down 2.5% to $137.5 million, negative same-store sales growth of 7.5%, gross margin of 62.2%, underlying net PAT of $20.3 million above guidance of $17 million to $19 million, net increase in cash of $7.4 million, operating cash flow of $16.6 million, interim dividend of $0.25. The payout -- half year payout ratio is $0.947 -- 94.7% rather. One new store opened during the half year, our third store in New Zealand.

Looking at sales. We can see

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