JB Hi-Fi (ASX:JBH) lifts FY10 profit 26%

JB Hi-Fi (ASX:JBH) lifts FY10 profit 26%

JB Hi-Fi (ASX:JBH) has recorded a 26% increase in FY10 profit to $118.7 million, due to strong sales of computers an telecom products.

The company recorded sales of $2.7 billion, up 17% from FY09. Sales were also strong in the visual and accessories segment, JB Hi-Fi said.

Gross margin improved to 21.8% from 21.6%, and operating costs shrank to 14.5% from 14.7%.

JB Hi-Fi will pay a final dividend of 33 cents per share, bringing the total to 66 cents. JBH shares have today declined 0.51% to $19.450.

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Tags retailJB HiFifinancial resultsASX:JBH

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