Harvey Norman Posts Profit Rise

Sydney Morning Herald:

Electrical retailer Harvey Norman Holdings Ltd has posted an eight per cent rise in annual profit, and says it has positive expectations of the year ahead.

Harvey Norman reported profit of $231.41 million, up from $214.35 million in 2008/09.

Harvey Norman’s franchisee sales rose during the year from $5.06 billion to $5.19 billion, while company owned sales revenue fell to $1.345 billion from $1.441 billion.