Despite the increasingly challenging retail environment, JB Hi-Fi has managed a surprisingly strong profit growth, beating market expectations and its own predictions.
- JB Hi-Fi raised its final dividend to 51 cents per share
- Its results were boosted by cellular phones and computer sales, which offset weaker films and music revenue
- the Majority of the 249.8m gain was driven by its Australian shops
The electronics retailer’s full-year profit rose 7.1 percent to $249.8 million, boosted by Australian customers taking advantage of end-of-tax-year promotions.
Its earnings, for the 12 months to June 30, increased by 3.5 percent to $7.1 billion, with its Australian shops becoming the stand-out performers.
The result was driven by sales of computers, cellular phones, sound equipment, video games home devices and fitness trackers.