Business

Saturday 1 October 2016

Harvey Norman to return to profit

Published 05/03/2016 | 02:30

Harvey Norman expects a return to profit this year. Photo: Ian Waldie/Bloomberg News.
Harvey Norman expects a return to profit this year. Photo: Ian Waldie/Bloomberg News.

The chief executive of the Irish arm of retailer Harvey Norman said yesterday that the firm anticipates a return to profit this year after years of successive losses.

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Blaine Callard said that the Irish business "broke several sales records over the Christmas period". New accounts filed for the year to the end of June last show that Harvey Norman Trading (Ireland) Ltd reduced its pre-tax losses to €6.2m as revenues increased by 8pc to €161.3m.

"Harvey Norman has consistently stated its commitment to Ireland. And it's our firm expectation that the Irish operation will return to profit in this financial year," Mr Callard said. "We continued to invest through the recession which resulted in significant increase in market share... and consistent sales growth."

Irish Independent

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