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.