SYDNEY, AAP – JB Hi-Fi has posted a 67 per cent jump in full-year profit and lifted its dividend as customers forced to work from home boosted demand for home appliances and technology products.
The electronics and appliances retailer on Monday said net profit for the year to June 30 rose to $506.1 million from $302.3 million a year earlier.
Sales for the period jumped 12.6 per cent to $8.6 billion, with online sales soaring 78 per cent to $1.1 billion.
“Our continued focus on the customer, combined with the strength and competitive advantage of our multichannel offer, be it in-store, online or over the phone, has enabled us to seamlessly meet our customers’ increased demand,” incoming group chief executive Terry Smart said.
Sales at its JB Hi-Fi Australia stores were up 12 per cent to $5.96 billion. Its New Zealand stores booked sales growth of 17.4 per cent to $NZ261.6 million.
Sales at subsidiary chain The Good Guys, which focuses on electrical and home appliances, were up 13.7 per cent to $2.72 billion.
The company declared a fully franked final dividend of $1.07 per share, up from 90 cents a year ago.