Shares in JB Hi-Fi are tanking

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JB Hi-Fi was taking a beating on the ASX after the consumer electronics retail posted a record half year result.

AT the close, the shares were down 8% to $25.86.

Revenue in the first half to December was up 41% to a record $3.69 billion. Statutory profit after tax was up 37.4% to $151.7 million.

However, for the full year the rise profit won’t be as large.

JB Hi-Fi expects group profit to be between $235 million and $240 million, an increase of 13.1% to 15.5%, for the 12 months.

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