Harvey Norman chairman Gerry Harvey’s annual pay remained steady at $1.03 million last financial year, as the company’s profit dropped by 17.5 per cent.

Mr Harvey’s base salary of $723,000 in 2012/13 was almost unchanged from the previous year, but slightly lower cash incentives meant his total pay dropped slightly from $1.035 million.

Harvey Norman chief executive Katie Page, who is married to Mr Harvey, was paid $1.79 million in 2012/13, down from $1.8 million in the previous year.

The company’s profit fell to $142 million in the 2012/13 financial year, due mainly to further falls in the value of its properties.

Sales were down three per cent from the previous year.

Mr Harvey’s shares in Harvey Norman are currently worth more than $1.01 billion.