ASX 200 Stocks News: Harvey Norman (HVN)

ASX Top 200 Stocks News: Harvey Norman (HVN)|ASX HVN|HVN SharesHarvey Norman (ASX:HVN) is an integrated franchisor, retailer and property entity, operating a slew of retail stores under three leading brand names: Harvey Norman, Domayne and Joyce Mayne.

HVN has been one of the shares to sell in recent times, with the company buckling under the weight of the strong Aussie dollar and declining consumer sentiment.

HVN’s FY11 net profit climbed 9% to $252.3 million.  A final dividend of 6 cents was declared.

Sales were down 1.7% on-year, with HVN suffering from the strong AUD and weak consumer sentiment.

HVN was cautious about the FY12 outlook, citing global volatility, higher utility costs, subdued equity markets and a possible pickup in domestic unemployment.

However the group was anticipating an increase sales leading up to the Rugby World Cup and London Olympics.

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