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Harvey Norman shares lifted as Asic ended investigation. Photo: Attila Csazar

Harvey Norman shares jump as Asic review ends

Shares in Harvey Norman have risen strongly after the corporate watchdog told the retailer it was no longer reviewing its 2015-16 financial report.

Harvey Norman shares were up 21.0 cents, or 5.56 per cent, at $3.99 when trading closed, after the company announced the news to the market late on Tuesday.

The Australian Securities and Investments Commission in March said it would review Harvey Norman's financial report, which followed media reports that raised concerns over the level of disclosure about the group's relationships with franchisees.

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Total Shareholder Return as at 30/09/16

1 year TSR5 year TSR
102ndEvolution Mining105%15%
197thHarvey Norman42%26%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Revenue

33rd↑Harvey Norman$3,018.6m
54th↑Evolution Mining$666.3m
57th↑STW Group$478.4m
59th-Sedgman$359.3m
61st↑Ausenco$252.8m
76 listed non wa companies ranked by revenue.
Source: Morningstar

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