Harvey Norman addresses market expectations after earnings release

Harvey Norman Holdings Limited does not consider its Reported Profit Before Tax (PBT) for the financial year ended June 30, 2025 to have differed materially from market expectations. The company did not publish earnings guidance. It noted that sell-side analysts do not reliably forecast Reported PBT due to the unobservable inputs required for fair value determination of assets and investment properties. The increase in Reported PBT from the prior corresponding period for June 30, 2025 was consistent with the December 31, 2024 increase, at 39% and 41.2% respectively.

For PBT (excluding AASB 16 net impact and net property revaluation), Harvey Norman also confirmed no material difference from market expectations. While no earnings guidance was issued, sell-side analyst forecasts, based on a consensus estimate of AUD 589 million, varied by less than 15% from the actual PBT. The PBT disclosed in the results announcement reflected a 9.3% increase over the prior corresponding period.

Harvey Norman confirmed it became aware around August 29, 2025 that both Reported PBT and adjusted PBT would not vary materially from expectations. The company maintained that no information required earlier disclosure under Listing Rules 3.1 and 3.1A and affirmed its compliance with Listing Rule 3.1.