JB Hi-Fi: Result 2014

Increasing competition didn't stop JB Hi-Fi from increasing profit 10%, but a repeat performance will be tough.

After 14 years, retiring JB Hi-Fi chief Terry Smart has gone out with a whimper rather than a bang, but it reflected the company's outlook rather than the annual result. Revenue increased 5% to $3.5bn from a year earlier chiefly due to an increase in store numbers, with operating earnings increasing 8% to $191m. Net profit increased 10% to $128m and earnings per share increased 9% to $1.28. The board declared a fully franked final dividend of 29 cents (ex date 18 Aug), bringing the yearly total to 84 cents, for a yield of 4.8%.

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