Harvey Norman Smashes Full Year Net Profit With A 48.9% Jump To $211.70 million

Gerry Harvey.
Chris Hyde/Getty Images

Harvey Norman has beaten back a limp retail environment to post a 48.9% rise in net profit to $211.70 million on sales of $5.77 billion, up 4.7%.

Chairman Gerry Harvey says the solid result for the 2014 financial year was underpinned by sound strategic decision-making and the strength of integrated retail, franchising, property and digital system.

He says there’s been a moderate improvement in consumer sentiment despite some short term weakness associated with the May Federal Budget.

“With a robust outlook for the housing market in Australia, we are well-placed to harness our market-leading position in the homemaker categories to build market share and deliver improved performance,” he says.

“Market conditions, together with our consistent strategy and operational focus, gives me confidence in the outlook for Harvey Norman.”

A fully-franked final dividend of 8 cents per share has been recommended.

Detail on the results:

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