Harvey Norman increases third quarter sales by 12.5%

By James Wells

SYDNEY: Harvey Norman has announced sales for the nine months to the end of March of $3.41 billion, an increase of 12.5 per cent when compared to the corresponding period a year before.

The like for like increase in sales, which removes new store openings, was 7.6 per cent for the period from 1 July 2005 to 31 March 2006 compared to the same period a year earlier.

“The Directors of Harvey Norman Holdings Limited wish to announce that aggregate sales from the franchised Harvey Norman stores, commercial divisions and other sales outlets in both Australia, New Zealand, Slovenia and Ireland (excluding Singapore and Rebel Sport Ltd) totalled $3.41 billion for the nine months ended 31 March 2006 compared to $3.03 billion for the nine months ended 31 March 2005,” said Harvey Norman chief financial officer and director, John Skippen in a statement to the Australian Stock Exchange this morning.

“Sales revenue continued to be strong in all major categories, particularly audio visual and information technology. Harvey Norman continues to lead the convergent technology market,” Skippen said.

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