‘Prudent and efficient’: Harvey Norman posts revenue above $4B

Harvey Norman Ltd (ASX:HVN) has reported a total systems revenue of $4.83 billion in the six months to December 2024, while its profit after tax (PAT) – excluding the effects of AASB 16 leases and net property revaluations – was $216.28 million, a rise of 1.1% since the first half of 2024.

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The company’s aggregated headline franchisee sales revenue number was $3.34 billion, while the company-operated sales revenue was $1.49 billion.

Harvey Norman posted an interim dividend per share of 12 cents; up from 10 cents in the prior corresponding period.

Chairman Gerry Harvey said the first half of FY2025 had been a strong one, noting the profit reading in particular occurred during a time of greater pressure on retailers.

“Total assets have surpassed the $8 billion milestone for the first time, reaching $8.25B as at 31 December 2024,” he said. “Prudent and efficient working capital management across key segments has continued to deliver strong operating cash flows of $448.10 million at a cash conversion ratio of 118.8%.”

Harvey Norman has been trading at $5.09.

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