Harvey Norman delivers record profit

Company News

by David Murdoch

Harvey Norman (ASX:HVN) has announced a record breaking full year profit result, reporting to the market its net profit after tax (NPAT) rose 28.8 per cent on FY16 to $448.98 million for the 2017 financial year.

In more good news for Harvey Norman, its revenue strengthened over the 2017 financial year, and lifted 8.4 per cent on FY16 to $1.3 billion.

Its earnings before interest and tax (EBIT) increased over 26 per cent on the prior year, to $659.88 million.

The company declared a final dividend of 12 cents per share fully franked.

Shares in Harvey Norman (ASX:HVN) are trading down 4.20 per cent to $4.22