LA Private

Hi-Five for JB with NPAT of $438m

JB Hi-Fi (ASX:JBH) has announced Q1 FY25 results, with a 4.9% total sales growth in JB Hi-Fi Australia, 19.6% growth in New Zealand, and 5.3% for The Good Guys, its consumer electronics and home appliances arm. 

In FY24, JB Hi-Fi reached $9.6bn in sales, with a net profit after tax of $438.8m and a closing cash balance of $302.7m. The company maintained its shareholder returns with fully franked dividends totalling 261 cents per share and an additional 80-cent special dividend. CEO Terry Smart attributed the company’s sustained growth to its multi-channel approach, combining physical stores, an enhanced online presence, and dedicated sales channels, such as phone and video consultations, to meet evolving customer preferences.

Steady growth was complemented by the group’s acquisition of a 75% stake in e&s Trading Co, a premium appliance retailer. e&s targets a higher-end market and has a reputation for kitchen, laundry and bathroom products. This acquisition not only diversifies JB Hi-Fi’s product range but also positions the company strategically in the commercial construction sector by catering to builders and architects.

The group is also investing in a robust supply chain with a new transport management system to ensure inventory flow and availability during peak sales periods like Black Friday and Boxing Day.

Shares in JB Hi-Fi are trading 5.46% higher at $82.16.