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JB Hi-Fi says sales are benefiting from work-at-home protocols enforced due to the coronavirus pandemic, which is spurring on demand for home entertainment products. The home electronics retailer posted a net profit of $302.3 million for the 12 months ending June 30, a 21 per cent increase compared with financial year 2019. Underlying earnings before tax and interest were $486.5 million, a 30.5 per cent increase over the same period. JB Hi-Fi chief executive Richard Murray said the sales hike had been driven by an increased demand in home electronics spending during the pandemic. In particular sales in laptops, entertainment and small appliances.
Online electronics seller Kogan says its business has reaped the benefits of the “retail revolution” in e-commerce trading during the coronavirus pandemic. Kogan posted a net profit of $26.8 million for the 12 months ending June 30, a 55.9 per cent increase compared with financial year 2019. Its adjusted earnings before tax, interest, depreciation and amortisation rose 57.6 per cent to $49.7 million over the period. Kogan has also issued a fully franked final-year dividend of 13.5 cent per share. The company’s chief executive Ruslan Kogan said a record number of first-time customers had visited Kogan’s online platforms due to lockdown measures imposed in April and May stopping people from visiting physical retail stores.
Lendlease posted a statutory loss of $310 million for the 12 months ending June 30, a 166.4 per cent slump compared with the 2019 financial year. Lendlease said the loss was primarily caused by a $368 million exit cost associated with the intended sale of its engineering business and also COVID-19-related impacts incurred upon its core operations. The company has issued a final dividend of 3.3 cents per share, bringing the total 2020 financial year dividend payout to investors to 33.3 cents per share.
#Lendlease #Profits #Kogan #Kalkine
