External broker reports(aggregated public sources), Bell Potter Securities

Bell Potter

External broker reports(aggregated public sources)

Bell Potter Securities

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to individuals, institutions and corporations. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Nick Scali (NCK) provided an upgrade to 1H26 guidance on 22-Dec-25 (~12% at midpoint), guiding to Group Statutory NPAT of $37-39m vs previously $33-35m (as of 29- Oct-25).</li><li>We had flagged positive catalysts on 1H earnings given supportive 2Q26 comps and the upgrade was driven by a higher 1H26 revenue guidance of 10-12% growth for ANZ vs previously 7-9% growth (on pcp).</li><li>Both metrics were ahead of BPe/Consensus (BPe previously at top end of ANZ revenue growth guidance range and at mid-point of NPAT...</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Nick Scali (NCK) provided an upgrade to 1H26 guidance on 22-Dec-25 (~12% at midpoint), guiding to Group Statutory NPAT of $37-39m vs previously $33-35m (as of 29- Oct-25).We had flagged positive catalysts on 1H earnings given supportive 2Q26 comps and the upgrade was driven by a higher 1H26 revenue guidance of 10-12% growth for ANZ vs previously 7-9% growth (on pcp).Both metrics were ahead of BPe/Consensus (BPe previously at top end of ANZ revenue growth guidance range and at mid-point of NPAT...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Australia

Nick Scali Limited retails furniture in Australia.  The Company specializes in leather and fabric lounges, dining rooms, bedrooms and occasional furniture. Nick Scali has about nine showrooms located in New South Wales and Queensland.

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Nick Scali Ltd (NCK AU)

Nick Scali (NCK): Upgrade hat-trick

Nick Scali (NCK) provided an upgrade to 1H26 guidance on 22-Dec-25 (~12% at midpoint), guiding to Group Statutory NPAT of $37-39m vs previously $33...

Bell Potter

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