JB Hi-Fi Says Tablet Sales Fell Last Month Along With Customer Confidence

Miles Willis/Getty Images

JB Hi-Fi has improved margins, lifting net profit for the year to June 30 by 10.3% to $128.4 million.

Total sales were up 5% to $3.48 billion.

The electronics retailer announced a final fully franked dividend of 29 cents per share, bringing final dividends for 2014 to 84 cents.

July figures saw tablet sales fall, a market-wide decline.

Globally retailers are reporting a crash in the tablet market and a pickup in laptop sales.

JB HI-FI reports a good pipeline of new products is expected to drive sales in the 2015 financial year with eight new stores planned.

CEO Richards Murray says sales were strong in the first three quarters but the last three months were impacted by falling tablet sales and customer sentiment.

“Improved gross margins, ongoing cost control, and continued emphasis on customer service all contributed to the overall result,” he said.

Online sales grew 13.9% and made up 2.2% of total sales, while the average number of visitors to the site totalled 1.3 million.

This chart shows how the number of JB HI-FI stores has grown:

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.