Australia's Harvey Norman sees best day since Sept on share buyback plan

Harvey Norman Holdings

27/10/2023 01:59

** Shares of Harvey Norman  HVN.AX  firm as much as 2.5% to
A$3.64, set for best day since Sept 1 - if gains hold 
    ** Australia's top electronics retailer says it intends to
buy back up to 10% of its shares, valued at about A$442.3 mln
($280.11 mln) 
    ** Says it expects to start buyback in November and complete
within 12 months 
    ** Separately, co reports quarterly profit of A$86.2 mln vs
A$169.5 mln a year earlier  
    ** Shares hit highest level since Oct 18 
    ** Stock down ~12.2% this year, as of last close

($1 = 1.5790 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))