JB Hi-Fi's (ASX:JBH) H1 FY24 sales Hit $5.16B despite tough retail climate

JB Hi-Fi reported total sales of $5.16 billion for the six months to Dec. 31 2023.

EBIT for the period reached $386.7 million, while net profit after tax was $264.3 million. The group faced increased competition and on-floor discounting in a challenging trading environment.

JB HI-FI Australia experienced a 0.7% increase in total sales, driven by demand for technology and consumer electronics. JB HI-FI New Zealand saw a 5.1% sales increase, while The Good Guys' total sales decreased by 9.9%.

The company's board declared an interim dividend of 15.8 cents per share.