JB Hi-Fi Limited
(ASX:JBH) has reported a 10.3 per cent rise in net profit for the full 2014 financial year.
The electronics retailer generated a net profit of $128.4 million, inline with earlier guidance of between $126 million and $129 million.
Revenue also met guidance by growing 5.3 per cent over the year, but this guidance was cut in May from an earlier forecast of between 6 to 8 per cent.
A fully-franked final dividend of 29 cents per share has been declared, taking the full year payout to 84 cents.
Richard Murray has now taken the reins as the company’s new CEO, taking over from Terry Smart who oversaw the last financial year’s result.
Looking ahead the JB Hi-Fi has cautioned its first half sales will be impacted by lower tablet sales but the company remains positive about a pipeline of new products.
