Retail in Asia

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Harvey Norman profit down 25pc

Harvey Norman’s pre-tax profit for the first nine months of the financial year is down 25 percent as sales continued to fall in the three months March.

The company said its profit before tax and minority interests for the nine months to 31 March was AUD204.8 million (USD210.9m), down from AUD272.3m in the previous corresponding period.

The result clearly shows the impact of aggressive competitor activity in the audio/video and information technology sector, Harvey Norman said.