House slump hits Harvey Norman

Original article by Sue Mitchell
The Australian Financial Review – Page: 17 & 22 : 1-Mar-19

Furniture and electronics retailer Harvey Norman has posted a 2018-19 interim net profit of $222.8m, which is 7.3 per cent higher than previously. Its Australian franchised stores recorded sales of $2.95bn for the period, a decline of 1.7 per cent, and there was an 0.6 per cent fall in same-store sales. However, its overseas stores boasted sales of $1.07bn, an increase of 12.1 per cent. Chairman Gerry Harvey is confident that Harvey Norman’s overseas stores will eventually contribute 50 per cent of its earnings.

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, ALLERON INVESTMENT MANAGEMENT LIMITED, IKEA

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