PHOTO: Gerry Harvey
Harvey Norman executive chairman Gerry Harvey has defended how the retailer discloses the value of its multibillion-dollar property portfolio, arguing that providing investors with a breakdown of individual properties would give its rivals an advantage.
ASX-listed Harvey Norman’s accounts detail that it has one-sixth of its $2.9 billion portfolio valued every six months by external valuers with the remainder assessed by the company’s directors. Listed companies are required under accounting standards to revalue their assets regularly.
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