JB Hi-Fi (ASX:JBH) profit jumps 86 per cent

Company News

by Anna Napoli

Electronics retailer JB Hi-Fi’s (ASX:JBH) first half net profit has increased by 86 per cent to $318 million when compared to the year earlier period.

Earnings were also higher rising 76 per cent to $463 million.

The company says exceptional growth in online sales and the Black Friday promotional period more than offset the impact of the government mandated temporary store closures during the half.

Online sales rose 162 per cent to $679 million, representing 13.7 per cent of sales.

Shares in JB Hi-Fi (ASX:JBH) are trading 4.9 per cent higher at $53.23.