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JB Hi-Fi says it enjoyed record sales and earnings in the first half of 2022/23 as customers continued to show strong demand for electronics and appliances.
The retailer said overall sales were up 8.6 per cent to $5.28b in the six months to December 31, compared to a year prior.
Unaudited earnings before interest and taxes were up 14 per cent to $479.2 million, while net profit after tax came in at $329.9m, up 14.6 per cent from a year ago.
"We are pleased to report record sales and earnings for HY23 as trading conditions started to normalise following two years of COVID related disruptions," said Group CEO Terry Smart.
For the December quarter, same-store sales were up 4.9 per cent at JB Hi-Fi Australia, up 9.8 per cent at JB Hi-Fi New Zealand and up 3.3 per cent at The Good Guys.
The company said its Black Friday and Boxing Day promotions had been well-managed.
Online sales were $752.1m, or 14.2 per cent of total sales, and up from 11.9 per cent of total sales for first six months of calendar 2022.
The company will release its audited financial reports on February 13.
JB Hi-Fi is the second Australian retailer to report strong sales for the second half of calendar 2022 in as many days, alleviating fears consumers might have been unwilling to spend because of concerns over rising interest rates.
Supercheap Auto, Rebel, BCF and Macpac owner Super Retail Group on Monday announced that same-store sales in the first half were up 11 per cent to $1.96 billion.
