The release of new products, continued strong demand for electronics and well-timed promotions pushed JB Hi-Fi to a profit of $462.4 million for the FY25 year – up 5.4 per cent from the previous financial year.
Sales across the group – which also owns JB Hi-Fi New Zealand, The Good Guys and home appliance and bathroom retailer e&s – hit $10.6b.
JB Hi-Fi Australia still makes up the lion’s share of sales, with a 7.5 per cent jump to $7.1b.
Releasing its results this morning, the electronics and white goods giant said the key growth categories were mobile phones, small appliances and computers.
The launch of Nintendo Switch 2 in the fourth quarter helped to lift sales of games hardware
Online sales is also becomng an increasingly more powerful revenue driver for JB Hi-Fi, increasing by 16.4 per cent to $1.19b – or 16.8 per cent of total sales – as shopper embrace the click-and-collect offering.
“It has been another strong year of sales and earnings, as we built on the momentum of the previous year,” group CEO Terry Smart said.
“The company stayed focused on its core proposition of driving great value and delivering consistently high levels of customer service which continued to resonate with our customers.”
JB Hi-Fi wil pay out a final dividend of $1.05 a share, fully franked, up 2c and bringing the total ordinary dividend to $2.75.
It will also pay out a special dividend of $1-a-share fully franked.
Amd in more good news for investors, the company said it will up its payout ratio from 65 per cent to a range of between 70 and 80 per cent of after-tax profits.