JB Hi-FI (ASX:JBH) surges 67.4% in profit for FY21

Company News

by Lauren Evans

Home entertainment retailer JB Hi-Fi (ASX:JBH) reported total sales of $8.9 billion for the period ending 30 Jun 2021 (FY21), up 12.6 per cent from the prior year.

Online sales alone were up 78.1 per cent to $1.1 billion. Sales momentum was heightened from customer demand for consumer electronics and home appliance products.

Earnings before interest and taxes (EBIT) was up 53.8 per cent from the prior year to $743.1 million. Net profit after tax (NPAT) up 67.4 per cent to $506.1 million. 

Earnings per share was up 67.5 per cent to 440.8 cents per share. Total dividend for the year was 287 cents per share, up 51.9 per cent from the prior year.

JB Hi-Fi's CEO Terry Smart said, "our continued focus on the customer, combined with the strength and competitive advantage of our multichannel offer, be it in-store, online or over the phone, has enabled us to seamlessly meet our customers’ increased demand.”

Shares in JB HIFI (ASX:JBH) are trading 0.3 per cent lower at $48.18.  

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