{"id":81917,"date":"1999-12-31T00:40:00","date_gmt":"1999-12-30T13:40:00","guid":{"rendered":"http:\/\/smartoffice.com.au\/harvey-norman-profit-drops-29-6-percent\/"},"modified":"1999-12-31T00:40:00","modified_gmt":"1999-12-30T13:40:00","slug":"harvey-norman-profit-drops-29-6-percent","status":"publish","type":"post","link":"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/harvey-norman-profit-drops-29-6-percent\/","title":{"rendered":"Harvey Norman Profit Drops 29.6 Percent"},"content":{"rendered":"<p>Consumer Electronics retailer Harvey Norman who are now under pressure from both Dick Smith, JB Hi Fi and current market conditions has reported a 29 percent fall in first-half profits which fell from $174.14 million for the same period last year to A$123.5 million at December 2008.<P>Despite the bad numbers, Chairman Gerry Harvey is bullish and sees only better things ahead for the company. &#8220;Trading conditions remain challenging, but our core segments are resilient and our brands are growing market share in all key product categories,&#8221; he said in a statement. He did admit to his Irish operations struggling. &#8220;Trading conditions in Ireland remain extremely difficult. We have taken an impairment charge of $17 million against the written down value of our plant and equipment in Ireland.&#8221;<BR><BR>The franchising operations segment results were down from $171.24 million in HY2008 to $149.42 million HY2009 a drop of 12.7 percent.<BR><BR>Sales from the company were up slightly from $764.67 million to $770.35 million, while its EBIT was almost halved to $181.6 million in HY2009 compared to $344.28 million in HY2008. <\/P><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Consumer Electronics retailer Harvey Norman who are now under pressure from both Dick Smith, JB Hi Fi and current market conditions has reported a 29 percent fall in first-half profits which fell from $174.14 million for the same period last year to A$123.5 million at December 2008.<\/p>\n","protected":false},"author":90,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[28,179],"tags":[],"class_list":["post-81917","post","type-post","status-publish","format-gallery","hentry","category-archive","category-retail","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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