JB Hi-Fi profit lifts 5.5%

Company News

by Anna Napoli

Electronics and whitegoods group, JB Hi-Fi (ASX:JBH) has announced its net profit rose 5.5 per cent to $160 million for the six months ended December 31.

The strong result came on the back of strong sales growth.

Its earnings (before interest and tax) increased by 4.8 per cent compared to the same time last year, to $237 million.

Earnings per share increased by 5.4 per cent to 139.4 cents per share (cps).

The company declared an interim dividend of 91 cents per share up 5.8 per cent on the prior corresponding period.

JB Hi-Fi forecast its full-year profit would be between $237 million and $245 million, up 1.6 to 5.1 per cent on last year.

Shares in JB Hi- FI (ASX:JBH) are trading 3.50 per cent higher to $23.37.


 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.