JB Hi-Fi Reports Sales Up 36%, Profit Up 29%

JB Hi Fi Limited today reported a record half year net profit* of $18.8 million (2004 $14.6m) from $510 million of
sales (2004 $376m) for the six months ended 31 December 2005.


August 22, 2009

JB Hi-Fi chief executive Patrick Elliott said

"We've seen strong trading across all of our sectors. The big trends we've seen over the past 12 months (are) that a lot more money has been spent inside the home. So they may have switched their expenditure from perhaps overseas holidays, cars, spending more money on food items, entertainment items.

JB Hi-Fi said its net profit for the year ended June 30 was $94.4 million, up from $65.1 million in the previous financial year.

The result exceeded the company's guidance in June for a net profit of around $92 million, due to stronger than expected June trading.

JB Hi-Fi said sales totalled $2.327 billion for 2008/09, up 27 per cent on the prior corresponding period.

The company said it expects sales in 2009/10 to be around $2.8 billion, a 20 per cent increase on the prior financial year.