Harvey Norman Holdings (ASX:HVN) profit impacted by bushfires and property prices

Company News

by Rachael Jones

Harvey Norman Holdings (ASX:HVN) announced today that net profit after tax and non-controlling interests for the half-year to 31 December 2019 was $213.59 million, down $9.18 million, from $222.77 million in the previous corresponding period a 4.1 per cent decrease.

This result was impacted by a decrease in the net property revaluation increment and franchisees were also negatively impacted by the bushfires.

These impacts coincided with peak Christmas trading.

The company maintained its dividend at 12 cents per share.

Shares in Harvey Norman Holdings (ASX:HVN) are trading 8.1 per cent lower at $3.97.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.