Australian retailer Harvey Norman Holdings has reported an increase in profit for the first half of the 2025 financial year (H1 FY25).
The company, which has more than 300 stores in Australia, New Zealand, Ireland and Singapore, said net profit after tax was A$283.407 million in the six months to 31 December 2024, 39.7% higher than in the previous corresponding period.
Earnings before interest, tax, depreciation and amortisation increased 22.9% to $581.42 million on sales which edged just 0.9% higher to $1.490 billion in the first half year.
Directors declared an interim fully franked dividend of 12 cents per share, up from 10 cents a year earlier, to be paid on 1 May to shareholders registered on 3 April.
Chairman and joint founder Gerry Harvey said the first half result was solid with profit before tax (PBT) rising 41.2% to $400.29 million but, if the effects of lease and property revaluations are excluded, PBT rose just 2.2% to $310.46 million.
He said the franchising operations PBT grew 26% to $180.28 million, due mostly to higher franchise fees, while the property segment PBT increased by 73.8% to $165.81 million mainly as a result of a revaluation.
But overseas retail profitability dropped 10.9% to $67.89 million.
Harvey Norman (ASX: HEVN) shares closed on Thursday at $5.09, up eight cents (1.06%) on the day, capitalising the company at $6.34 billion.
