Australia's Harvey Norman hits 6-mth high after FY beat

Harvey Norman Holdings

31/08/2023 06:18

** Shares of Harvey Norman Holdings Ltd  HVN.AX   rise as
much as 4.2% to A$4.0, their highest level since Feb. 27
    ** Co sees biggest intraday pct jump since June 28
    ** Retailer's FY23 profit before tax (PBT) excluding net
effects of AASB16 and property revaluations down 27.8% but
slightly above guidance   
    ** Co's Australian franchise segment beat expectations
"significantly" - Citi 
    ** Final dividend of 12.0 Australian cents per share (cps)
above Citi's view
    ** Co's FY23 underlying PBT above estimates - UBS 
    ** Co's Australian Franchising Division and Retail New
Zealand performance above expectations - Jefferies
    ** Shares down 7.0% this year, as of last close 
  

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