The franchising operations of Harvey Norman remain as the main driver in delivering the positive financial results for the company for the year ended 30 June 2010.

The company delivered an underlying result before tax of $314.17 million compared with an underlying result of $308.06 million for the prior year, an increase of 2 per cent.

“Franchisees continue to gain market share in all key categories,” Gerry Harvey, company chairman, said.

According to the Group’s annual report, Harvey Norman will resume its store roll-out program in Australia in 2011 with expectations of open five new Harvey Norman complexes and one company-owned store in Slovenia. Meanwhile, the acquisition of the 29 Clive Peeters and Rick Hart branded stores in July is expected to give a positive return within its first year of operation.

“We continue to satisfy our two key strategic objectives, namely to provide outstanding service and to understand and deliver the needs of our customers; and provide long-term sustainable growth for our shareholders through the operation of our integrated, retail, franchise and property system,” Harvey said.