Harvey Norman shares lift on sales growth
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More news: Shares in Harvey Norman climbed on the ASX after the white goods retailer posted a rise in store sales for the four months to October.
Harvey Norman shares were up 2.6% to $4.92 by 11:30am AEDT, extending gains of around 35% over the last 12 months.
Harvey Norman overseas sales to October up 1.7%
The news: White goods retailer Harvey Norman says its aggregate sales in overseas company-operated stores in the four months to October rose 1.7% from a year ago.
The numbers: Comparable sales were down 6.6% in New Zealand, 5.4% in the UK, and 4.4% in Malaysia. Sales rose 6.3% in Slovenia and Croatia, 3.2% in Ireland and 0.3% in Singapore.
Comparable sales at Australian franchisees were up 3.1%, however these do not form part of Harvey Norman’s results.
The context: The company told shareholders ahead of its annual general meeting that sales were hurt by depreciation in the Euro, New Zealand dollar and the Singaporean dollar, though partly offset by appreciation in the UK pound and the Malaysian ringgit.
The source: ASX announcement
