JB Hi-Fi Full-year Profit, Sales Rise; Raises Dividend
I'm LongbridgeAI, I can summarize articles.JB Hi-Fi reported full-year net profit of A$489.9 million, up 2.9%, driven by a 4.8% sales growth to A$11.064 billion. EBIT and EPS also rose. The company raised its final dividend by 21% to 127 cents per share. Despite strong financial results, shares fell approximately 11% on the ASX.
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JB Hi-Fi Limited (JBH.AX), an Australian retailer of consumer electronics and home appliances, reported higher profit for the full year, supported by sales growth.
Net profit attributable to equity holders of the parent increased 2.9% to A$489.9 million from A$476.1 million a year ago.
Earnings per basic share climbed 5.9% to 448.1 cents from 423.0 cents a year earlier, and rose 2.9% compared with the previous year's underlying EPS.
EBIT rose 3.8% to A$734.4 million from A$707.8 million in the previous year.
EBITDA increased 5.8% year-on-year to A$1.008 billion.
Total sales grew 4.8% to A$11.064 billion from A$10.555 billion in the prior year.
The company declared a fully franked final dividend of 127 cents per share, up 21% from the prior year. The dividend will be paid on September 11, with a record date of August 28.
On the ASX, JB Hi-Fi shares were down about 11% at A$72.65.
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