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Harvey Norman reports 30% sales growth for FY21 to date

Harvey Norman has seen aggregated sales revenue increase by 30.6% from 1 July to 17 September 2020 compared to the previous corresponding period with comparable aggregate sales up 30.3%.

Unaudited preliminary accounts show profit before tax and non-controlling interests (excluding the net impact of AASB 16 Leases) was $178.1 million for the period from 1 July to 31 August 2020, an increase of circa 185.8% compared to the pcp.

Ireland was the standout performer experiencing 61.7% growth in total sales during the period, closely followed by Australia (33.8%), Slovenia & Croatia (27.2%) and Northern Ireland (23.6%), which were trailed by New Zealand (18.8%) and Malaysia (7.4%) while sales in Singapore were down 3.7%.

A new store at Galway City in Ireland opened on 22 July 2020 and a new store at Seletar Mall in Singapore opened on 15 September 2020.

From 6 August, 18 Harvey Norman and Domayne franchised complexes in greater Melbourne, Victoria were closed as a result of the stage 4 restrictions. Franchisees quickly moved to service customers via Click & Collect and contactless delivery.

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