Full Year 2020 Nick Scali Ltd Earnings Call Transcript
Thank you for standing by, and welcome to the Nick Scali Limited FY '20 Results Teleconference. (Operator Instructions) I would now like to hand the conference over to Mr. Anthony Scali, Managing Director. Please go ahead.
Good morning. This morning, we'll start with a summary of the results and the highlights.
In terms of sales, written sales orders were up 9%, $293 million compared to FY '19 of $268 million. Sales, which are deliveries, were down 2% to $262 million. Our gross margin was 62.7% compared to 62.9% in FY '19. Underlying net profit after tax was $42.1 million, above guidance of $39 million to $40 million previously given. Cash flow, net increase in cash of $26.8 million, underlying operating cash flow of $62.8 million. The final dividend was $0.225 for the half, final dividend is $0.225, with a total of $0.475 for the year.
In terms of our store network, one store was opened during the year, which was our first store in New Zealand. And our online sales channel
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