JB Hi-Fi’s share priced has soared over 15% since it announced a 3.1% rise in sales to $1.8bn for the half-year ended 31 December. Net profit also rose 3.0% to $82.1m. This is at a time when, according to the Australian Bureau of Statistics, electronic retail sales have declined; JB Hi-Fi is the clearly winning market share.
Chief executive Terry Smart also flagged a return to a more rational pricing environment – which bodes well for the rest of the year. The board declared an interim dividend of 50 cents per share (fully franked, ex date 15 February).