Smh:
Harvey Norman Holdings Ltd has posted a 17 per cent lift in third quarter sales and says it’s on track for a “huge” annual profit, as Australians continue to demand cutting-edge technology.
LCD and plasma televisions, digital cameras and notebook computers were all in hot demand over the three months ended March 31.
Harvey Norman chairman Gerry Harvey said consumers were unfazed by the possibility of further interest rate rises by the Reserve Bank of Australia (RBA), following eight increases in a row since May 2002.
“We have had eight already and we have managed to survive them and go from strength to strength, so perhaps we’ll see which one gets us,” Mr Harvey told AAP.
The country’s biggest furniture and electrical retailer said third quarter sales totalled $1.28 billion, up 17.2 per cent from the same quarter last year.
The figure included sales from the franchised Harvey Norman stores, commercial divisions and other sales outlets in Australia, New Zealand, Slovenia and Ireland.
Like-for-like sales were ahead by 10.8 per cent from the same period last year.
The RBA kept official interest rates on hold this month at 6.25 per cent, but expectations that a hike might not be too far away have not dented consumer demand.
No comments yet.