JB Hi-Fi Limited has released its half-year results for the six months ending 31 December 2023. The company reported total sales of $5.16 billion, earnings before interest and tax (EBIT) of $386.7 million, and a net profit after tax (NPAT) of $264.3 million. Earnings per share were reported at 241.8 cents per share, and an interim dividend of 158.0 cents per share was declared.

In Australia, JB Hi-Fi's total sales increased by a marginal 0.7% to $3.62 billion, with comparable sales up by 0.1%. Meanwhile, in New Zealand, the company saw a more substantial sales increase of 5.1% to NZD168.7 million, despite comparable sales being down by 1.2%. However, The Good Guys, another arm of the group, experienced a decrease in total sales by 9.9% to $1.39 billion, with comparable sales also down by 9.9%.

Terry Smart, Group CEO of JB Hi-Fi Limited, commented on the results, "We are pleased with our performance as we cycled the elevated customer demand in the prior year. As expected, we saw the trading environment become more challenging, marked by heightened competitive activity and increased on-floor discounting. Our focus remained on maximising customer demand through delivering consistently high levels of customer service and driving best value for our customers."

Despite the challenging retail environment, Smart emphasised the company's adaptability and commitment to customer value. "In a challenging retail environment, we continue to adapt and innovate to maximise the opportunities it gives us. Our unwavering focus on delivering value for our customers by leveraging our established and proven low-price market position and providing exceptional customer service continues to ensure we remain top of mind for shoppers. This strategy not only ensures our continued relevance to our loyal existing customers but also drives the expansion of our market share."

The company's FY23 Sustainability Report outlines its commitment to having a positive impact on its people, community, and environment. Furthermore, the group provided a sales update for January 2024, with total sales growth for JB Hi-Fi Australia at 2.5%, JB Hi-Fi New Zealand at 8.2%, and The Good Guys at -2.2%.