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- Electronics retailer JB Hi-Fi (JBH) tables a 3.5 per cent increase in unaudited total sales to $9.2 billion for FY22
- Unaudited online sales were also up 52.8 per cent to $1.6 billion, representing 17.6 per cent of the company’s total sales
- Additionally, full-year earnings before interest and tax (EBIT) was up 6.9 per cent to $794.6 million while second half FY22 EBIT was up 33.4 per cent
- JB Hi-Fi credits the increases to elevated sales growth and improvements in gross margins and expects to release its full-year audited results in mid-August
- Shares in JB Hi-Fi are up 2.63 per cent to trade at $41.96 at 11:39 am AEST.
Electronics retailer JB Hi-Fi (JBH) has tabled a 3.5 per cent increase in unaudited total sales to $9.2 billion for FY22.
This consists of $2.78 billion in sales from The Good Guys, $6.19 billion in sales from JB Hi-Fi Australia and $262.4 million in sales from JB Hi-Fi New Zealand.
Unaudited online sales were also up 52.8 per cent to $1.6 billion, representing 17.6 per cent of the company’s total sales.
Additionally, full-year earnings before interest and tax (EBIT) was up 6.9 per cent to $794.6 million while second half FY22 EBIT was up 33.4 per cent.
JB Hi-Fi credits the increases to elevated sales growth and improvements in gross margins.
CEO Terry Smart said he was pleased to have reported record sales and earnings for FY22.
“The benefits of having a strong multichannel strategy were especially evident in the second half as Covid-19 restrictions eased and customers returned to shopping in-store, whilst continuing to shop with us online,” he said.
“It is a credit to our over 13,000 team members who continue to remain focused on providing outstanding customer service and worked tirelessly to deliver this record result.”
JB Hi-Fi expects to release its full-year audited statutory results on August 15.
Shares in JB Hi-Fi were up 2.63 per cent to trade at $41.96 at 11:39 am AEST.
