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Harvey Norman Profit Jumps 26pc

Harvey Norman’s first-quarter preliminary profit before tax has risen 25.9 percent to $115.6 million, the consumer electronics and furniture retailer has told the ASX.

HN said this covered sales by wholly-owned company-operated stores in New Zealand, Slovenia, Croatia, Ireland and Northern Ireland; majority-owned or controlled company-operated stores in Singapore and Malaysia; and from independent Harvey Norman, Domayne and Joyce Mayne franchised complexes in Australia.

Comparable sales for the three months to September 30 were up 5.4 percent for its Australian franchisees, while sales at its company-owned New Zealand stores were up 14.8 percent.

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