Harvey Norman (ASX:HVN) profit up 19%

Company News

by Katrina Bullock

Harvey Norman (ASX:HVN) has announced a 19 per cent rise in reported net profit after tax (and NCI) to around $481 million, bolstered by second half sales growth.

Revenue was up 7.6 per cent year on year to $8.23 billion. EBITDA was up 37.2 per cent to $944.7 million.

Chairman Gerry Harvey attributed the growth to the company’s attractive offering in the Covid 19 world, saying customers were appreciative of the shopping experience, spaciousness and easy parking at the physical franchised complexes and stores, whilst embracing the ease of connection to the company’s brands digitally and the important convenience of home delivery and click and collect.

Harvey Norman declared a dividend of 18 cents per share, down from last year’s 21 cents per share dividend.

Shares in Harvey Norman (ASX:HVN) are trading 2.55 per cent higher at $4.42.