JB Hi-Fi Ltd, an Australian home electronics retailer, forecast a 20 percent jump in annual sales for its current fiscal year as it reported on Tuesday a 45 percent leap in net profit for 2008/09.
Annual profit of A$94.4 million ($80 million) came in slightly above guidance, helped by massive government stimulus which led to strong sales growth in games, computers, DVDs and telecommunications products.
For the year ahead, analysts are expecting JB Hi-Fi's profit to grow to A$106 million, according to estimates tracker IBES.
The group's main rivals are Harvey Norman Holdings and the Dick Smith chain owned by Woolworths Ltd.
JB Hi-Fi raised its full-year dividend by 69 percent to 44 cents a share.
($1=1.193 Australian Dollar)
(Reporting by Sonali Paul; Editing by Mark Bendeich)