ASX 200 reporting season: Harvey Norman
Reporting season reveals mixed fortunes for Australian retailers as Harvey Norman posts strong profits while Wesfarmers and Endeavour Group face headwinds amid cautious consumer spending.
[AI generated]
This video was created on 28 February for IG audiences by ausbiz.
Key financial results
Harvey Norman
Harvey Norman has lifted its half-year profit by almost 40% to just under $280 million on the back of higher revenue from its franchises. The retailer says franchising sales are up 7.2% in the first 21 days of February, but added its overseas retail results were adversely impacted in the half by a weak economy in New Zealand.
Pexa Group
Pexa Group has reported a loss of $32.7 million in the first half. But with underlying cash generation growing, the group will distribute $50 million to shareholders via a share buyback. Pexa has also flagged it expects the macro environment and property market to remain uncertain in its Australian and UK markets.
However, the group has reaffirmed its full year 2025 guidance and will manage a Chief Executive Officer (CEO) transition in the second half with Russell Cohen to step into the role at the end of March.
Endeavour Group
Endeavour Group is still looking for a new CEO following Steve Donoghue's planned resignation on March 17th. Larry Mervis will be appointed temporary executive chairman from that date. Endeavour is expecting conditions to improve in its retail market if inflation moderates.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Explore the markets with our free course
Discover the range of markets you can spread bet on - and learn how they work - with IG Academy's online course.
Turn knowledge into success
Practice makes perfect. Take what you’ve learned in this index strategy article, and try it out risk-free in your demo account.
Ready to trade indices?
Put the lessons in this article to use in a live account. Upgrading is quick and simple.
- Get fixed spreads from 1 point on FTSE 100 and Germany 40
- Protect your capital with risk management tools
- Trade more 24-hour markets than any other provider – 26 in total
Inspired to trade?
Put the knowledge you’ve gained from this article into practice. Log in to your account now.
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
