August 12, 2018 / 10:46 PM / 4 months ago

Australia's JB Hi-Fi annual profit rises 12.3 pct, beats estimates

Aug 13 (Reuters) - Australian electronics retailer JB Hi-Fi Ltd on Monday said annual underlying profit rose 12.3 percent, beating expectation.

Net profit, excluding significant items, for the year ended June 2018 was A$233.2 million ($170.00 million), compared with an average expectation for A$230.41 million, according to 12 analysts polled by Thomson Reuters I/B/E/S. The company reported an underlying net profit of A$207.7 million last year.

JB Hi-Fi reported a 21.8 percent rise in revenue to A$6.85 billion, compared with A$5.63 billion a year ago. ($1 = 1.3717 Australian dollars) (Reporting by Susan Mathew in Bengaluru;)

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