Australian based furniture and electrical retailer Harvey Norman has reported an increase in sales for its first quarter, with its Northern Ireland market leading the way.
According to its latest trading update for the three months ended 30 September 2016, total sales across the group registered an increase by 6.6% to $1.69bn in Australian currency.
In local currencies, its Northern Irish arm, consisting of two stores in Belfast including its flagship on Boucher Rd and its Holywood outlet, sales jumped by 62.2% compared to a 9.2% increase over the same period last year. However, due to currency devaluations, the growth registered half that percentage to 31.5% in Australian Dollars.
The group suffered an 18.9% devaluation in the UK pound, whilst also seeing a negative value in the Euro, down by 4%, culminating in a loss of 3.9% in sales within its Republic of Ireland market despite posting an uptick of 0.3% in local currency.
Harvey Norman indicated that pre-tax profit for the period grew by 25.9% to $115.6m from $91.8m for the prior corresponding period.