Electronics and home appliance retailer JB Hi Fi lifted net profit 8% to $285.4 million in the six months ending 31 December 2024.
JB Hi Fi said earnings before interest and tax (EBIT) grew 8.6% to $419.9 million on sales which rose 9.8% to $5.67 billion.
The company declared an interim dividend of $1.70, up 12 cents from the payout in the first half of the 2024 financial year, from earnings per share of $2.61, up 8% on the previous corresponding period.
“We are pleased to report strong sales and earnings for HY25,” CEO Terry Smart said in an ASX announcement.
Smart said the company’s focus remained on maximising demand by delivering consistently high levels of customer service and exceptional value for customers in a challenging trading environment, marked by heightened competitor activity.
JB Hi Fi said Australian sales increased by 7.2% to $3.88 billion, driven by continued demand for technology and consumer electronics products, and online sales rose by 16.4% to $682.7 million.
The key growth categories were mobile phones, small appliances, computers, televisions and cameras.
In January, sales grew 7.4% in Australia, 20.4% in New Zealand, 6.4% for the Good Guys and 8.1% for new 75%-owned acquisition E. & S. Trading Co.
“Whilst we are pleased to see sales momentum continue into January, we remain cautious given the uncertainty in the retail market and the continued competitive activity,” Smart said.
JB Hi Fi (ASX: JBH) shares closed on Friday at $102.45, up 47 cents or 0.46%, capitalising the company at $11.2 billion.
