Harvey Norman co-founder and executive chairman Gerry Harvey’s annual pay has fallen nearly 16 per cent, despite the furniture and homewares retailer’s strong profit growth.

Harvey’s pay totalled $1 million in the year to June 30, down from $1.19 million in the previous year, while chief executive Katie Page, Harvey’s wife, was paid $3.1 million, up from $2.9 million a year earlier.

Harvey Norman’s profit rose 30 per cent to $349 million in 2015/16, thanks to the housing construction and renovation boom.

Harvey’s stake in the company is currently worth $1.7 billion.

AAP

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