JB Hi-Fi FY10 profit grows 25.6%

Retailer JB Hi-Fi (ASX:JBH) has reported a 25.6% increase in FY10 profit to $118.7 million, as a result of strong sales.

Revenue grew 17.4% to $2.73 billion, due to strong comparative store sales growth, as well as the maturity of the 42 stores the company opened in the last two years, CEO Terry Smart said.

JB Hi-Fi will pay a final dividend of 33 cents per share for the year – a 14% increase on the payment from last year – which brings the final dividend for the year to 66 cents per share.

JBH shares are today trading 3% higher at $22.350.