JB Hi-Fi Limited has published its half-year financial results, recording a 9.8 per cent growth in sales to $5.67 billion, driven in part by the acquisition of a 75 per cent stake in E. & S. Trading Co. (Discounts) during the period.

During that period, ended December 31, 2024, JB Hi Fi’s earnings before interest and tax (EBIT) rose by 8.6 per cent to $419.9 million, while net profit after tax (NPAT) saw an 8.0% increase, amounting to $285.4 million. Earnings per share also climbed by 8.0%, reaching 261.1 cents per share.

The company declared an interim dividend of 170.0 cents per share, marking an increase of 12.0 cents or 7.6% from the previous period. This dividend represents 65% of the NPAT. The Group’s closing net cash was reported at $555.1 million as of December 31, 2024.

In Australia, JB Hi-Fi’s total sales increased by 7.2 per cent to $3.88 billion, with online sales experiencing a significant rise of 16.4%, totalling $682.7 million. Across the Tasman, JB Hi-Fi New Zealand reported a total sales increase of 20.0% to NZD 202.5 million, with online sales surging by 58.4% to NZD 32.4 million.

E&S reported total sales growth of 7.6 per cent to $92.3 million for the period of ownership, while another of JB Hi Fi’s entities, The Good Guys, reported a total sales increase of 9.2 per cent, reaching $1.52 billion. Online sales for The Good Guys rose by 8.9 per cent, totalling $233.3 million.

Group CEO Terry Smart said: “We are pleased to report strong sales and earnings for HY25. In this challenging trading environment, marked by heightened competitor activity, our focus remained on maximising demand through delivering consistently high levels of customer service and exceptional value for our customers.

“Whilst we are pleased to see sales momentum continue into January, we remain cautious given the uncertainty in the retail market and the continued competitive activity. We will continue to adapt and innovate to ensure we remain top of mind as the destination for our categories.”

The Group’s commitment to sustainability was highlighted, with a focus on supporting its people, community impact, and environmental responsibility.

For January 2025, JB Hi-Fi Australia reported total sales growth of 7.4%, JB Hi-Fi New Zealand 20.4%, The Good Guys 6.4%, and E&S 8.1%.

“We are grateful to our over 15,000 team members whose continued focus on delivering value and maintaining our high levels of customer service has helped to deliver these half year results,” said Smart.