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Figure 1: JB Hi-Fi 12 month chart


JB Hi-Fi lifts profit, up 10%, and buyback underway as expected.

·         Home entertainment product retailer JB Hi-Fi (JBH) reported its full year numbers today. Headline sales were slightly below market expectations but profit was up 10% year on year to $128.36Million.

·         The strong lift in profit was expected by the market after JB Hi-fi’s latest update back in mid- June. The result was solid backed by margin improvements and strong stock selection in store. However the cost of doing business did increase and will continue to as JBH rolls out its new HOME format, it will open 6 new stores and will reconvert 26 existing stores into their new JB Hi-fi HOME format this financial year.

·         The share buyback announced today was expected by the market, JBH will undertake an on-market share buy-back of up to 645,765 ordinary shares, representing approximately 0.65% of the shares on issue.

·         JB Hi-Fi trade update as at 11th of August 2014. JBH July 14 total sales numbers were down 3.2% with consolidated comparable sales down 5.5% weaker than expected. JB Hi-fi expects sales in FY15 to be around $3.6Billion.

·         Final dividend of $0.29 will be paid to shareholders on 5 September 2014.


You can see all of CommSec’s reporting season analysis by clicking here.

Juliana Roadley, Market Analyst,