Harvey Norman Holdings (HVN) - FY15 dividend 20.0 cps is slightly above our estimates

Bell Potter


Harvey Norman had their global sales grow 4.3% to $6.02bn and up 4.6% on like-for-like basis; ( in local currency like for like basis: Australia up 4.5%, NZ up 2.6%, Slovenia up 1.2%, Ireland up 7.3%, Northern Ireland up 15.5%). They reported a net profit up 25.6% to $387.1m including net property revaluations $20.38m. In relation to their segment PBT, Franchise operations were up 39.4% to $200.36 m (This was due primarily to a decrease of 21.2%, or $21.84 million, in the level of tactical support provided to franchisees to $81.35m in 2015, from $103.19m in pcp. Property was up 9.3% to $135.2m, Company operated retail up 42.9% to $42.03m. Net operating cash flow was up 0.5% to $340.5m also. Read our summary here: (VIEW LINK)

1 topic

1 stock mentioned

Bell Potter

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.


Sign In or Join Free to comment