The New Zealand Shareholders’ Association says it was lack of resources which delayed it taking action to force change at Rakon until now. With special feature audio.
Electronics retailer JB Hi-Fi is seeing improving sales activity in the New Zealand market and plans to open more stores after posting a bumper first half profit, it was announced today.
The Australian company reported record half year profits for the six months ending December 31 of $A76 million up 29% on the previous year’s results of $A59 million.
Sales were up 23% from $A1.26 billion to $1.5 billion. JB Hi-Fi chief executive Richard Uechtritz said sales in December were solid across “almost all categories”.
JB Hi-Fi is looking to take advantage of the recessionary environment to expand its business in 2009.
Chief executive Richard Uechtritz says that his company has struggled with all the traditional start-up problems but synergies are starting to come together and he thinks 2009 will be a big year for the brand.
“Everything’s been up this year – margins, sales, morale,” he says.