Australia's Harvey Norman faces worst day in 3 years on lacklustre HY profit

Harvey Norman Holdings

28/02/2023 24:53

** Shares of Harvey Norman Holdings Ltd  HVN.AX  fall as
much as 11.8% to A$3.67 - set for their worst day since Feb 28,
2020, if current losses hold
    ** Australia's biggest electronics retailer posts a 15% drop
in first-half profit as cost-of-living pressures crimp 
discretionary retail spending 
    ** Co records a profit after tax attributable of A$365.9 mln
($246.58 mln), compared with A$430.9 mln a year earlier
    ** Co declares a fully-franked interim dividend of 13.0
Australian cents per share
    ** Co's shares hit lowest since March 20, 2022
    ** About 7.4 mln shares change hands, compared with the
30-day average trading volume of 2.6 mln shares 
    ** Shares up 0.7% YTD, as of last close

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))