JB Hi-Fi has recorded a 67.4% increase in net profit after tax (NPAT) to $506.1 million for FY21 as total sales grew 12.6% to $8.9 billion and online sales jumped 78.1% to $1.1 billion.

Total sales for JB Hi-Fi Australia increased 12% to $5.96 billion with comparable sales up 13%. Online sales grew 93% to $780 million or 13.1% of total sales.

Sales momentum was strong through the year with heightened demand for communication products led by strong outright sales and connections; computers, notably Apple Macbook; games hardware assisted by new consoles in the second half; televisions with an increase in panels 75-inch and above, and small appliances driven by stick vacuums, coffee machines and benchtop appliances.

For The Good Guys, total sales increased 13.7% to $2.72 billion with comparable sales up 13.7%. Online sales rose 48.5% to $258.3 million or 9.5% of total sales.

Strong performing products included fridges, freezers, large capacity washing machines, heat pump dryers, stick vacuums, robotic vacuums, coffee machines, food preparation, and televisions across all screen sizes.

Total sales for JB Hi-Fi New Zealand increased 17.4% to NZ$261.6 million with comparable sales up 17.4%. Online sales grew 35.6% to NZ$27.6 million or 10.6% of total sales.

The group continued to invest in online and supply chain operations including website upgrades and expanded delivery and warehouse options, as well as sustainability initiatives including a commitment to net-zero direct carbon emissions by 2030.

Incoming JB Hi-Fi group CEO, Terry Smart said, “On behalf of Richard and myself, I would like to recognise and thank our team members across Australia and New Zealand who have worked tirelessly throughout this period and delivered another record result.

“Our continued focus on the customer, combined with the strength and competitive advantage of our multichannel offer, be it in-store, online or over the phone, has enabled us to seamlessly meet our customers’ increased demand.

“While it remains an uncertain retail environment, we have continued to demonstrate our ability to adapt and respond. The combination of our passionate and knowledgeable team members, our multichannel offer, including quality store locations and established online offerings, and our ongoing investment in our supply chain gives us confidence in the outlook for the business.”