The bright yellow electronics retailer has their financial results for 2018-19 this morning, with games hardware, drones, audio, computers and communications highlighted as the stronger performers for the business.
JB’s full year results went out to investors today, revealing a 9.4% jump in sales to $4.54 billion and a 12.3% jump in net profit to $233.2 million. Breaking that figure down a little, JB’s Australian business enjoyed a small growth in sales (2.9%) and comparable sales (0.3%) for the 2018 financial year.
In their results presentation, the group noted that software sales were down by 11.2% “as a result of an acceleration” in falling movie sales. That was offset “growth in the Games Software” category, however.
As part of their strategic plans for the next year, JB noted evolution in the gaming, services and ecommerce areas, as well as highlighting their partnership with the Melbourne Esports Open:
Hardware and services sales – which includes all JB sales outside of games software, movies and music – jumped by 11.9% for the year, thanks to growth in drones, games hardware (the Switch undoubtedly playing a part here), computers, audio and communications. Business Insider Australia also noted that JB’s full year net profit after tax jumped by 35.3%, in stark contrast to the rest of the Australian retail market.
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