James Marlay

A few take outs from the Harvey Norman result today. Management did not provide specific forward guidance but they did give some macro outlook for FY14. HVN expects Australian housing prices to rise as well as housing constructions - which will reflect positively on their products. Strong growth is expected in 4Q14 from the sale of TVs due to the FIFA World Cup. The Company expects in the 3rd and 4th quarter of FY14 to see the launch of many new mobile devices (smart phones & tablets). Omni strategy continues to strengthen with further integration between stores and online. The profit result has come in marginally ahead of expectations with NPAT (excluding property revaluations) up 3.6% to $117.45m. The dividend was up 33% to 6cents. Media release here: (VIEW LINK)


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