JB Hi-Fi announces $200M shareholder payout amid profit decline and E&S acquisition
JB Hi-Fi recorded a net profit of $438.8 million, down from $524.6 million a year ago.
The electronics goods giant was among the first to reveal its end-of-financial-year results, which also showed annual sales hit $9.59 billion and slightly exceeded market expectations.
The company also revealed plans to acquire a majority stake in E&S Trading Co, a Victoria-based home appliance retailer with 10 showrooms, for $47.8 million. E&S is widely recognised as the official supplier for the popular TV show, The Block.
