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JB Hi-Fi boosts 1H profit 29% to $76m

JB Hi-Fi boosts 1H profit 29% to $76m

Electronics retailer JB Hi-Fi boosted its net profit 29% to a record $76 million in 1H10, with the company reporting solid sales across nearly all its product categories.

JB Hi-Fi said it opened 15 new stores during the half, and expects to open 7 new stores during 2H10. The group now has 134 stores, of which 122 use the JB Hi-Fi brand.

The company closed three stores in New Zealand, but plans to open three or four new ones this year. It currently has 10 stores in the country.

JB Hi-Fi confirmed its guidance of sales of $2.8 billion and a NPAT of $117 million to $120 million for FY10.

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