Electronics and furniture retailer Harvey Norman Holdings says it plans to recommence its offshore expansion plans, as profit slows in its Australian home market.
Releasing its December half results, the ASX-listed company said it plans to grow its store footprint in Malaysia to 80 stores by the end of 2028.
In its results, Harvey Norman – which operates the Harvey Norman, Domayne and Joyce Mayne brands – reported a 15 per cent fall in profit in its December half. Total system sales revenue for the year was A$4.98bn while company-operated revenue reached $1.47bn.
EBITDA fell eight per cent to $694M while tax-paid profit slumped 15.1 per cent to $365.9M.
