Harvey Norman enjoys revenue spike whereas predicting | Australian Markets
Harvey Norman chair Gerry Harvey says more shoppers will embrace AI-led computer systems and gadgets this yr as his furnishings, electronics and white items retailer delivered a 40 per cent rise in interim internet revenue.
The company on Friday reported revenue grew $79.38 million to $279.39m within the December half, as income from its shops throughout Australia, New Zealand, Europe and Asia hit $4.83 billion, up from $4.64b a yr in the past.
Mr Harvey famous customers have been embracing the new technology, which is anticipated to grow gross sales in home home equipment, tv, audio gadgets, cellphones and computer systems for the remainder of the financial yr and past.
“We have made significant strides in enhancing our digital, online and instore experiences, alongside the strategic expansion of our global store network and targeted investments in key segments,” he stated in a assertion. “Consumers continue to embrace the growing AI-PC market, with Harvey Norman proudly enhancing its AI-foothold in the delivery of the next-gen AI technology range.”
Pre-tax revenue at its 554 Australian franchise shops grew $37.21m to $180.28m, pushed by greater income from franchise charges.
Harvey Norman additionally has 122 company-owned shops throughout seven nations. Comparable gross sales in New Zealand, Singapore, the UK and Malaysia all went backwards.
The retailer opened its first store in Britain during the half, which it stated got here with important price that contributed to a loss of $6.64m. It plans to open a second store subsequent yr.
Whereas the company stated it remained dedicated to rising its Malaysia shops from 37 to growing to 80, it pushed back its growth plans by two years to 2030.
“Our strong balance sheet, low gearing ratio and substantial cash reserves provide the flexibility and capacity to seize opportunities as they arise, and secure additional liquidity when needed,” Mr Harvey stated.
The company lifted its interim dividend from 10¢ to 12¢ per share. Harvey Norman shares closed up 13¢ at $5.22.
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