i get so sick of hearing the general (uninformed) public ranting about how much profit business make. i am yet to work in a retail outlet ( ion 20 years of retail) that makes more than 15-20% net profit .
it would be really interesting if ppl stopped asuming local companies are making such a huge profit and actually look up some figures themselves.
in less than 2 minutes on harvey norman website and i found the 2010 annual report. seems there's several parts to the company, not sure how its all managed.
now i am no accountant, but to me, this doesnt look like a huge margin (quote taken directly from report)
http://www.harveynormanholdings.com....ual_Report.pdf
" The franchising operations margin was 6.1% for the year ended 30 June 2010 compared to 6.1% for the year ended 30 June 2009. "
yes theres a huge turnover so big dollar value net profit, but where's the huge margins everyone is always whining about ?
actually, on further investigation of said report, it would appear the make more profit out of property dealings than by retailing. that doesn't surprise me really.
further reading just confused me, so ffo to bed now :)