JBH is Australasia’s fastest growing and largest retailer of home entertainment, and boasts one of the best low-cost business models in the retail sector.
On 29 March, JBH announced a $170 million share off-market share buy back, representing up to 10% of its share issue.
The share buy back will be funded through JBH’s senior debt facility. In addition, JBH announced a restructuring charge related to its Clive Anthony’s business.
Following a $24.8 million write-down, JBH expects FY10 net profit to be between $108.5 million and $113.5 million.
This compares to previous guidance of a net profit between $134 million – $139 million.
JBH was one of the market’s hot shares on the day of the announcement, shooting up over 7%.
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