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Harvey Norman upgrades 1H profit forecast

Harvey Norman upgrades 1H profit forecast

Harvey Norman (ASX:HVN) has predicted a 40% profit increase in pre-tax profit for 1H10, due to strong upward trends in the company’s revenue and the overall economy.

The company’s franchised stores in Australia have increased their sales 7.7% year-on-year to $1.93 billion for the period from the start of the financial year until November 22.

HVN stock has climbed 5.2% since the upgraded forecast was given.

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Tags retailHarvey Normaneconomic outlook

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