JB Hi-Fi expects flat year as first-half profit dips
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Shares in JB Hi-Fi have risen more than 3 percent after the Australian consumer electronics retailer reported a 1.9 percent fall in first-half net profit to AUD88.5 million (USD68.8m) and confirmed flat earnings for the full year.
Chief executive Richard Murray reaffirmed guidance for full-year sales of AUD3.6 billion after the retailer posted stronger sales growth in the December quarter and a surge in sales in January.
Murray said net profit for the 12 months ending June was expected to come in between AUD127 million and AUD131 million, compared with AUD128 million in financial 2014.
Questions & Answers
Q.What is the expected full-year net profit for JB Hi-Fi?
What is the expected full-year net profit for JB Hi-Fi?
JB Hi-Fi expects its net profit for the 12 months ending June to be between AUD127 million and AUD131 million. This compares to a net profit of AUD128 million in financial year 2014.
Q.How did JB Hi-Fi's first-half net profit compare to the previous period?
How did JB Hi-Fi's first-half net profit compare to the previous period?
The retailer reported a 1.9 percent fall in first-half net profit, reaching AUD88.5 million. This figure is equivalent to USD68.8 million according to the report.
Q.What is the sales guidance for JB Hi-Fi for the full year?
What is the sales guidance for JB Hi-Fi for the full year?
Chief executive Richard Murray has reaffirmed guidance for full-year sales to be AUD3.6 billion. This follows stronger sales growth in the December quarter and a notable surge in January.