Furniture retailer Nick Scali has posted a 5.8 per cent increase in revenue for the financial year, up from A$468.2 million last year to $495.3 million.

The company’s profit rose from $306.8 million to $314.6 million year-on-year, with its margin dropping from 65.5 per cent to 63.5 per cent. 

Nick Scali’s EBITDA saw a 9.1 per cent dip, down to $159.1 million from $175 million, year-on-year.

In the UK, the company reported a net loss after tax of $11.2 million, with its written sales orders of $33.9 million being heavily impacted by store closures for refurbishments, and the continued clearance of its Fabb product range. In ANZ, Nick Scali saw a sales revenue of $453.5 million, down 1.4 per cent.

ANZ gross profit was at $294.9 million, with its gross margin in the region dropping from 66 per cent to 65 per cent. Online written orders in the market were $42.4 million, up 21.8 per cent year-on-year, following enhancements made to the company’s e-commerce user experience. 

Nick Scali expects its ANZ sales revenue for the first quarter of the next financial year to increase over the prior year, with five stores slated to open across the region.

In the UK, the company expects to continue seeing losses until stores reopen following refurbishments and individual store sales improve.