2222 GMT - JB Hi-Fi's shares are likely to remain in favor with investors after its 1H profit beats expectations and January sales look strong, Barrenjoey says. JB Hi-Fi reported a A$285.4 million net profit and A$419.9 million Ebit in 1H. Analyst Tom Kierath says Ebit exceeded consensus forecasts of A$409 million. January like-for-like sales growth of 7.1% at JB Hi-Fi Australia stores is outpacing Barrenjoey's forecast of a 6% increase in 3Q. "Given the beat and strong January we expect the shares to continue trading well," says Barrenjoey, which had a neutral call on JB Hi-Fi ahead of the 1H result. JB Hi-Fi's shares are up some 69% over the past 12 months. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 09, 2025 17:22 ET (22:22 GMT)
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