On the back of its franchised store sales going up by as much as 7.7% in the last 5 months, Harvey Norman Holdings Ltd. has shared that it is expecting its six monthly earnings to climb by at least 40% for the current year.

For the period of July 1-November 22 this year, the company reported total sales on $1.93 Billion, a substantial rise from the $1.79 Billion worth of sales recorded for the same period last year. Going by the positive figures and the fact that the economy is currently growing strong, the company on Monday stated that its half year profits would jump by 40% "on the previous first half".

"Our sales this year are going to be an absolute record, this is going to be the biggest Christmas we have ever had, and we are going to break all records. I am absolutely flabbergasted sales are as good as they are", said Harvey Norman Chairman Gerry Harvey.

Shares of the company on Monday, before the profits were officially announced, surged by 22 cents, or 5.19%, to close at a new trading high of $4.46.