US Edition
Tech sales up but caution remains over retail market
JB Hi-Fi's half-year sales reached $6.1 billion with a 23% dividend increase, driven by strong demand for mobile phones, small appliances, and an 11.2% rise in online sales.
- On Monday, JB Hi‑Fi released its half-year results to the Australian stock exchange, reporting sales up 7.3 per cent and net profit of $305.8 million with more than $6 billion in sales over six months.
- Online sales increased 11.2 per cent to 18.4 per cent of sales, driven by demand for consumer electronics and gadgets, JB Hi-Fi chief executive Nick Wells said.
- Operationally, the group in New Zealand sales climbed 32.6 per cent to $NZD268.6 million, with four stores opened in Australia and three in New Zealand.
- JB Hi‑Fi will issue shareholders a dividend of $2.10, an increase of more than 23 per cent after it raised its payout ratio and posted a net profit of $305.8 million.
- Reporting season peaks this week with 80 companies due as the S&P/ASX 200 Index starts up 0.6 per cent and 51 points after a 2.4 per cent jump last week.
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11 Articles
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Fat dividends and an unkillable Australian consumer help push up JB Hi-Fi to... 16-month low
JB Hi-Fi (ASX:JBH) top dog Nick Wells said on Monday that while the Australian company did see sales growth across the half year (both at its flagship store and Good Guys stores), “we remain cautious given the uncertainty in the retail market and the continued competitive activity.” Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more. That sounds…
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