Leading retailer Harvey Norman seems to be seeing the indicators of slower shopper spending, however stays assured of withstanding any financial headwinds.
The firm on Tuesday reported a fall in interim revenue, however stated the consequence represented stable progress that was above pre-pandemic ranges.
First-half internet revenue totalled $369.8 million, down from $433.7m within the earlier corresponding interval, on complete income of about $2 billion, together with $1.5b of gross sales of merchandise to prospects.
After stripping out overseas foreign money gadgets and land, constructing and different asset revaluations, the attributable revenue for the six months ended December was $390.2m, down from $461.4m.
“Despite the macroeconomic headwinds and cost of living pressures affecting discretionary retail, our strong balance sheet and our substantial growth in net assets throughout the pandemic has left us in a solid position to withstand these challenging circumstances,” it stated in an announcement.
“We remain confident in our brands and the strong market position held by our Australian franchisees and overseas company-owned stores.”
Brands embody Harvey Norman, Domayne and Joyce Mayne.
Harvey Norman declared an interim dividend of 13 cents per share, down from 20 cents in the identical interval within the earlier monetary yr.
Source: www.perthnow.com.au
