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Australia's Harvey Norman profit surges 29% on overseas sales growth

[BENGALURU] Australia's biggest electronics retailer Harvey Norman Holdings Ltd said annual net profit jumped 29 per cent as it benefited from sales growth at its overseas businesses and higher valuations for property at home.

Net profit for the year ended June 30 was A$449 million (S$483.47 million) from A$348.6 million a year ago, beating analyst forecasts of about A$414 million, according to Thomson Reuters I/B/E/S.