Harvey Norman has reported a 47 per cent surge in full-year net profit to $518.02 million, fuelled by strong overseas sales and steady growth across its Australian network. Group revenue rose 5.4 per cent to $9.35 billion, while comparable sales in July jumped 8.7 per cent.

The company’s expanding overseas footprint proved a major contributor, with its offshore company-owned stores — including a flagship site in the UK — delivering $109.99 million in profit before tax (PBT), or 18.4 per cent of total PBT. Harvey Norman also operates stores in Singapore, Ireland, Malaysia and Slovenia.

In Australia, the group’s 195 franchised complexes recorded a 6.1 per cent lift in aggregated sales to $6.43 billion, supported by strong demand for appliances, consumer electronics and home lifestyle products. Profit before tax from Australian operations rose 25.9 per cent to $344.39 million.

Chairman Gerry Harvey and CEO Katie Page said momentum was underpinned by post-pandemic household upgrades and renovation activity, with technology and home categories driving sales across the board.

In contrast, the New Zealand business underperformed. Sales edged up just 0.1 per cent to $953.76 million, while profit slipped 4.5 per cent to $64.89 million, largely due to weaker first-half trading.

The group’s extensive property holdings once again bolstered results. Harvey Norman’s $4.53 billion property portfolio — spanning Australia and international markets — delivered a valuation uplift of $154.38 million, helping push reported PBT up 39 per cent to $753.1 million.

Harvey Norman closed FY25 with net assets of $4.84 billion, underpinned by its freehold property base and growing international store network.

Australian Franchising Operations FY25

195 franchised complexes with 552 independent franchisees

Aggregated sales revenue: $6.43 billion

Franchising operations revenue: $1.043 billion

Profit before tax: $344.39 million