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Profit slumps at Harvey Norman

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AAP

2013-02-28

Harvey Norman's half year profit has dropped by 36 per cent because of weaker sales and falling property values.

The retailer made a net profit of $81.9 million in the six months to December 31, down from $128.95 million in the previous corresponding period.

Total sales in the six months to December fell by 7.3 per cent from the previous corresponding period, to $2.88 billion.