Saturday, 20 October, 2018

JB Hi-Fi Must Be Still Selling A Lot Of Games And Consoles

JB Hi-Fi Nabs”Record” HY18 Results, Sales Soar 41%, Profit Up 21% JB Hi-Fi Must Be Still Selling A Lot Of Games And Consoles
Laurie Berry | 12 February, 2018, 06:21

For HY18, JB Hi-Fi posted a 24.9% increase in EBIT - $225.8 million versus $180.8 million recorded in the same period past year.

Government figures show the value of electric and electronic goods retail sales rose 5.8 percent $3.22 billion in the March 2017 from a year earlier, lagging an 11 percent increase in the volume of sales.

As for its earnings before interest and tax (EBIT) it bolstered over the period, rising by 25 per cent or by $45 million rising to $226 million.

JB Hi-Fi has increased its interim dividend by 19.4 per cent to 86 cents per share, fully franked.

Total sales for JB Hi-Fi Australia grew 10.8 per cent to $2.48 billion with online sales growing 40.6 per cent to $119.3 million, representing 4.8 per cent of total sales.

While the overall numbers were down in New Zealand, the company says the launch of a new website in August 2017 significantly stimulated NZ online sales, with growth figures of 89.8% to NZD 4.8 million (3.8% of total sales). This is compared to a result of $263 million in HY17. "One JB Hi-Fi store was closed and we have exited whitegoods and rebranded the four stores to JB Hi-Fi" from JB Hi-Fi Home.

Palestinian courts India's aid for talks
Reports claim that the temple will have idols of Lord Krishna, Lord Maheshwara, Lord Ayyappa and a few other Hindu Gods. Almost a dozen agreements and Memoranda of Understanding (MoU) are expected to be signed between the two countries.

These growth figures have been affected by the company?s major acquisition of The Good Guys in November 2016, however JB Hi-Fi?s Australian segment continues to perform strongly despite the recent arrival of Amazon.

"It was another strong result for the JB HI-FI business in Australia, particularly through the important November and December periods", said the JB HI-Fi chief executive Richard Murray.

The retailer has 311 stores in Australia and New Zealand, having opened seven JB Hi-Fi stores in Australia and two new The Good Guys.

Concerning future outlook, the retailer expects full-year net profit to be between $235 million - $240 million.

"It was pleasing to see sales growth in The Good Guys throughout the half whilst we continued to take a considered and deliberate approach to change", he says. JB Hi-Fi came in at No. 218, and is only the third Australian retailer to boast a place.

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