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Harvey Norman posts 16.4pc FY profit drop

AAP  |  31 Aug 2018Text size  Decrease  Increase  |  
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Harvey Norman has posted a 16.4 per cent drop in full-year profit to $375.4 million due to property revaluations and the furniture and electrical goods retailer's disastrous dairy farming investment.

Sales revenue for the year ending June 30 rose 8.8 per cent to $1.99 billion, but property revaluation more than halved to $51.7 million and trading losses from the Coomboona dairy farm hit $49.5 million.

Harvey Norman will pay a fully franked final dividend of 18 cents a share, up from 12 cents a year earlier.



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