JB Hi-Fi looks for growth and rewards investors amid resilient sales

JB Hi-Fi is moving into the commercial builder market after buying kitchen and bathroom products group E&S Trading, with the major electronics and consumer goods retailer looking for growth as margins are crunched in other businesses.

The company will also reward shareholders with a special dividend of 80¢ a share after delivering a better than expected profit and pointing to higher sales for the first month of the new financial year. Underlying net profit for the 12 months to June 30 fell, however, down 16.4 per cent to $438.8 million compared to the previous year.