Aussie furniture retailer Harvey Norman tops benchmark on profit beat

Harvey Norman Holdings

28/02/2024 23:52

** Shares of Australian furniture retailer Harvey Norman
Holdings  HVN.AX  rise as much as 6.8% to A$5.060, their biggest
intraday pct jump since Aug 2020
    ** HVN stock at its highest level since April 29, 2022
    ** Stock is top gainer in the ASX 200 benchmark index
 .AXJO 
    ** Co logs 1H24 underlying NPAT of A$213.9 mln ($138.86
mln), down 29% from a year ago, but above consensus of A$175.5
mln
    ** Underlying pre-tax profit of A$303.8 mln also beats
consensus of A$256.7 mln
    ** Interim dividend of 10 Australian cents apiece is ahead
of consensus estimate of 9.10 AU cps
    ** HVN up 12.9% this year, as of last close

   ($1 = 1.5404 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))