Harvey Norman Holdings Limited (ASX:HVN) has reported a 47% increase in full-year net profit to A$518.02 million for the 2025 financial year, driven by strong retail performance and a doubling of earnings from its extensive property portfolio. The result includes a significant net property revaluation gain of A$154.38 million, with pre-tax profit climbing 39% to A$753.1 million.
Total revenue rose 5.5% to A$9.35 billion, with the board declaring a final dividend of 14.5 cents per share, up from 12 cents, payable on November 3. The company’s Australian franchisee network recorded a 6.1% uplift in aggregated sales revenue to A$6.43 billion, driving a 25.9% increase in profit before tax from flagship domestic stores to A$344.39 million.
Harvey Norman’s property segment contributed A$321.55 million to pre-tax earnings, up 100.3% from the prior year, with the company’s freehold property portfolio valued at A$4.53 billion. The result was supported by revaluation increments and reflects sustained investor demand for large-format retail assets, rental growth, and low vacancy rates.
Offshore operations across New Zealand, Southeast Asia, Europe and the United Kingdom contributed A$109.99 million in pre-tax earnings, representing 18.4% of total group profit excluding revaluations. Total net assets grew to A$4.84 billion, underpinned by Harvey Norman’s expansive property holdings.