JB Hi-Fi Reports a 26% Profit Increase

Australian Electronics Retailer, JB Hi-Fi (ASX:JBH) have reported to the sharemarket that the company has increased full year profit by 26 percent with expectations of 17 percent growth in the current year. Net profit to June 30 2010 was $118.7 million, up from $94.438 million the previous year. JB Hi-Fi reported revenue from ordinary activities up 17.4 per cent to $2.731 billion, and gross profit up 18 per cent at $594.174 million.

JB Hi-Fi Dividend

JB Hi-Fi have announced a fully franked final dividend of 33 cents per share, with full year dividend totalling 66 cents per share. Sales growth had been lifted by computers, telecommunications, accessories and audio visual goods.

JB Hi-Fi opened 23 new retail shop fronts in the 2009/2010 financial year with another 18 stores scheduled to be opened in Australia and New Zealand.