Chanticleer
Why a 20pc miss on profits sent JB Hi-Fi’s shares soaring
Sales running below inflation and profit down 20 per cent? No worries, that’s fresh record high stuff at JB Hi-Fi.
Need more proof investors are thinking about this time next year? Look at JB Hi-Fi.
The electronics retailer recorded 20 per cent less profit in the December half than it did one year earlier, while its sales couldn’t even keep up with inflation and actually dropped 2.2 per cent. It even cut its half-year dividend 20 per cent to $1.58 a share.
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