Electronics retailer JB Hi-Fi Limited
(ASX:JBH) has reported a nearly 2 per cent drop in first half net profit and forecast flat earnings for the full year.
Net profit dipped 1.9 per cent to $88.5 million for the first six months of the financial year with weak sales of tablets, TV’s and computers offsetting growth in sales of fitness gadgets and selfie sticks.
Sales rose 1.3 per cent in the same period, jumping 8.9 per cent in January alone. However the strong January result was not enough to lift the outlook for the year.
Profit of between $127 million and $131 million is now expected for the full year.
This compares to the profit of $128 million that JB Hi-Fi reported for the 2014 financial year.
