Harvey Norman Holdings, an Australian retailer, said today that the total sales of the company grew by 2.2% for the nine months ended March 31, 2010. The company also said that the sales in Australia for the third quarter ended March were reported almost flat. Harvey said that the revenue in the period was negatively affected by the deterioration in NZ dollar, Euro and UK pound.

Harvey Norman, the biggest furniture and electronics retailer in Australia, announced that the total sales were recorded of $A4.64 billion for the first nine months of the fiscal. The sales were reported up by 2.2% comparing to the same period of last fiscal. The company said that the results included the revenue from Slovenia and Ireland.

Like for like sales in Australia was reported up by 1.4 per cent in the third quarter, compared to the same period ended 31 March 2009. However, the Like for like sales in Australia for the first nine months was reported up by 4.3% comparing to the first nine months of the last fiscal. The sales in Australia missed the expectations of market analysts as they estimated a growth of around 6% for the third quarter.

The shares of Harvey fell today the most in past six months as investors felt disappointed by the results. Shares of the company were reported closed at $A3.38 today, decreasing by 5.3%.