JB Hi-Fi has reported record sales for the last fiscal year, but management has warned of an uncertain environment as consumers become more value-conscious.

The group’s sales for the year ended June 30 rose 4.8 per cent to $11.06 billion, while net profit after tax grew 6 per cent to $489.9 million.

The JB Hi-Fi network in Australia saw sales increase 4.4 per cent to $7.42 billion, with comparable sales up 3.2 per cent. Key growth categories include computers, mobile phones, fitness, small appliances and IT.

JB Hi-Fi New Zealand posted 25 per cent sales growth and a 15 per cent uplift in comparable sales. The Good Guys lifted sales by 2.7 per cent on both a reported and comparable basis.

Management noted that sales growth remained strong in the first three quarters, but was impacted by supplier price rises and stock availability shortages in the technology categories, along with cycling new product releases in the prior year.

The unfavourable conditions have continued into the new fiscal year, coupled with a pullback in spending as consumers become more value-conscious.

“We continue to see variability in trading, with customers increasingly looking for value and migrating spend to key promotional events, along with impacts from supplier price rises and stock availability shortages in the technology categories,” said group CEO Nick Wells.

For the trading period from July 1 to 31, sales at JB Hi-Fi Australia slid 0.5 per cent on a reported basis and 1.4 per cent on a comparable basis.

The Good Guys also saw a 1.7 per cent decline, while JB Hi-Fi New Zealand remained healthy with a 20.9 per cent increase.

“In what is expected to remain an uncertain retail environment in the short term, the group will continue to focus on driving demand and growing market share through creating great value offers for its customers, leveraging its strong supplier relationships to maximise stock allocations and delivering exceptional customer service,” added Wells.