Profits surge at Harvey Norman

PROFIT before tax at “key” Irish arm of Harvey Norman, which has a flagship store in Tallaght, increased strongly by more than a third up to the end of June 2026.

The Irish market enjoyed a 36.2 per cent increase in profit before tax, according to the company’s latest annual report, with stores on the corner of Airton Road and Greenhills Road, Nutgrove Retail Park and Fonthill Retail Park.

Figures rose to $30.84 million from the previous financial year’s recorded amount of $22.65m.

Translated to euros, Irish retail profit for FY26 was €17.94m, an increase of 32.8 per cent from €13.51m in FY25. When translated to Australian dollars, the retail result was the 36.2 per cent increase.

Sales in euros increased to €451.95m for an increase of 4.3 per cent from €433.12m in FY25.

A joint statement from the company’s Chairman Gerry Harvey and Director and Chief Executive Officer Katie Page noted a “strong” first half worked against international issues in the final six months of the financial year.

It reads: “FY26 was a year of sustained growth, international expansion and balance sheet strength, although momentum moderated in the second half as global uncertainty weighed on consumer confidence across a number of our markets.

“Our integrated retail, franchise, property and digital system again demonstrated its versatility and adaptability. We started the year with strong momentum, supported by improved consumer confidence and trading conditions across key markets…

“…The second half was more challenging. Geopolitical tensions escalated, inflationary pressures re-emerged and consumers became more cautious in Australia and several overseas markets.”

Sales figures in Ireland were driven by the first half, which contributed $60.44m of the increase, up 15.1 per cent from 1H25.

However, this was partially offset by a decline of $9.84m in 2H26 as geopolitical disruption in the Middle East contributed to higher fuel costs, renewed inflation concerns and softer consumer sentiment across Europe.