JB HiFi reports record profits for FY08

Sales rose by around $600 million for the period, driven largely by computer, video game and movie sales.

JB HiFi Limited (ASX:JBH) has reported record profits for the past financial year, accruing $65.1 million in income from $1.8 billion in sales.

These figures are significantly higher than last year’s results, when JB recorded $40 million in net profit from $1.2 billion in sales.

Sales of computers, video games and movies have driven this growth.

As of the end of the financial year, JB HiFi has 93 Australian and 12 New Zealand stores. The company is planning to open a further 24 stores in the coming financial year.

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