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JB Hi-Fi fiscal H1 profit climbs 7.4% YOY

JB Hi-Fi Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2015, amounted to 85 Australian cents per share, compared with the S&P Capital IQ consensus estimate of 96 cents per share.

EPS rose 7.5% year over year from 79 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$85.3 million, a gain of 7.4% from A$79.4 million in the prior-year period.

Total revenue increased 7.7% year over year to A$2.12 billion from A$1.97 billion, and total operating expenses grew 7.8% on an annual basis to A$1.98 billion from A$1.84 billion.

Reported net income grew 7.5% on an annual basis to A$95.2 million, or 95 cents per share, from A$88.5 million, or 88 cents per share.