Electronic retailer JB Hi-Fi Ltd
(ASX:JBH) has reported a 45 per cent increase in full year net profit and says it expects sales growth of around 20 per cent for fiscal 2010.
Net profit for the 12 months to June 30 came to a record $94.4 million, up from $65.1 million recorded the year before, exceeding the company’s guidance in June of around $92 million profit due to stronger than expected June trading.
Sales rose 27 per cent to $2.327 billion for the year, with the company saying it expects sales to rise 20 per cent to around $2.8 billion for the 2010 financial year.
Sales for July and August this year have met internal expectations, with comparable sales up 3.8 per cent for the year to date.
JB Hi-Fi raised its final dividend for the year declaring a fully franked dividend of 29 cents a share. JB Hi-Fi’s profits have been increasing year on year for the past four years.
Hearing implant company Cochlear Ltd (ASX:COH) has reported a 13 per cent increase in net profit for the year and says growth will be driven by the release of new products to the market in the coming year.
Net profit after tax for the 12 months to June 30 came to $130.5 million, up from $115.23 million the year before.
Core earnings rose 12 per cent to $138 million.
The company’s new Cochlear Nucleus 5 system and Cochlear Baha sound processor BP100 became available to the market on June 30.
CEO Dr Chris Roberts says these new products will underpin growth once they achieve final regulatory and reimbursement sign-off in the remaining jurisdictions.
Cochlear says its 2010 financial year results will be influenced by the roll out of new products and is likely to be biased to the second half of financial year 2010. Cochlear’s profits have been gradually increasing over the last four years.
Medical centre operator and diagnostics provider Primary Health Care Ltd (ASX:PRY) has posted a big jump in profit for the full year this morning.
Net profit after tax for the 12 months to June 30 came to $108.5 million up from $7.8 million the year before.
Segment earnings before interest, tax, depreciation and amortization came to $348.1 million up from $175.1 million in the prior year.
The company says its integration of Symbion Health, acquired in 2008 is on track.
Primary Health Care says it anticipates significant earnings per share and bottom line profit growth in fiscal 2010. Primary Health Care’s 2008 net profit took a big fall from the previous years high of $56.9 million.
