JB Hi-Fi sales beat expectations,dividend jumps

 In Australia, NewZealand
JB Hi Fi has swept aside the recent rash of retail collapses to post a record 23.6 per cent jump in half year sales to $2.6 billion and reaffirmed synergy benefits of up to $20 million a year from its acquisition of The Good Guys.
Underlying earnings before interest and tax surged by 30.9 per cent to $180.8 million and its net profit for the half grew by 31.7 per cent to $125.4 million or $110.4 million on a statutory basis.
The sales result beat consensus estimates of about $2.5 billion and group chief executive Richard Murray announced a 14.3 per cent increase in the interim dividend to 72¢ per share.
Same store sales in Australia increased by 8.7 per cent in the half, driven by sales of communication products, audio, cameras, computers and home appliances. Sydney Morning Herald – Read more…

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