Harvey Norman H1 earnings up 116 per cent

Harvey Norman continues to enjoy soaring sales through the pandemic after posting a 116 per cent rise in first-half earnings.

The furniture, electrical and whitegoods retailer on Friday reported a first-half net profit after tax of $462.03 million. 

Consumers have spent plenty of money on home renovation during the pandemic, which has continued in Harvey’s second half.

Sales were up 21 per cent from January 1 to February 23 on the same time last year. Harvey Norman operates in eight countries.

Shareholders will receive a fully-franked interim dividend of 20 cents per share. The company did not pay an interim dividend last year due to COVID-19.

Shares were down 4.25 per cent to $5.07 at 1108 AEDT amid a wider market downturn.

Be the first to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.