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JB Hi-Fi profit booms

 

JB Hi-FiElectronics and home entertainment retailer JB Hi-Fi’s share price has surged after it reported a 10 per cent profit rise.

Sales also increased strongly ahead of the retailer’s half-year results being released in early February.

Net profit after tax for the six months to the end of December rose to $90.3 million, up 10 per cent on the previous corresponding period’s of $82.1 million.

Total sales during that time rose by 6.8 per cent to $1.94 billion, up from $1.82 billion.

JB Hi-Fi shares rose by $1.61, or 8.8 per cent, to $19.90 at 1029 AEDT.

AAP

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