JB Hi-Fi: Announces $250m capital return on back of strong net profit

JB Hi-Fi Announces $250m capital return on back of strong net profit

• Retailer JB Hi-Fi (JBH) to return up to $250 million to shareholders through a share buyback after strong financial results despite supply chain issues due to COVID-19
• The company reported a net profit after tax of $287.9 million, a 9.4 per cent drop on last year’s record half year profit but in line with the guidance
• Sales dropped 1.6 per cent to $4.86 billion, however, online shopping is still skyrocketing with online sales up 62 per cent for the half year to over $1.1 billion
• Shareholders will also be receiving an interim dividend of $1.63 per share
• JBH shares up 5.38 per cent at $51.69