JB Hi-Fi Full Year Result - JBH beats expectations as Dick Smith’s demise boosts sales

Discount retailer, JB Hi-Fi (JBH) posted a better than expected 11.5% lift in net profit to $152.2m. The result was boosted by a strong end to the financial year and the closure of Dick Smith stores. Sales, underlying earnings and net profit were all ahead of expectations. Net profit was ~$5m above the upper end of JBH’s own profit guidance.