Harvey Norman suffers fall in profits Feb 25, 2011 2:08 PM (17 hours ago)
Retailer Harvey Norman has suffered a 16.5 percent drop in first half profits over the previous corresponding period, the company reported today.
Net profit after tax was $131.67 million compared with $158.86 million the year prior, a decrease of 17.1 percent.
Chairman Gerry Harvey blamed the profit slump on price deflation in key categories driven by the high Australian dollar, bad weather and costs incurred from buying Clive Peeters.
Hmm... He says nothing about his support of the 10% GST import issue, as having any effect.
Cheers Don...
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