28 Aug 2010

Harvey Norman profit up

7:00 am on 28 August 2010

Furniture and electronics retailer Harvey Norman has announced an increase of 8% in its full-year profit.

The company made $A231.4 million in the year to the end of June, compared to just over $A214 million a year ago.

Harvey Norman chairman Gerry Harvey says the company's results reflected a very weak end to the 2010 financial year. He described the year as "really a tale of two halves".

However, Mr Harvey said sales in the early months of the current financial year have been good and the outlook is also solid.

The ABC reports the company has declared a final dividend of 7 cents per share, bringing the full-year dividend to 14 cents. Shares were steady at $A3.54 by 2:40pm (AEST) on Friday.