JB Hi Fi Ltd

JBH: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$48.00	Kxty	Vnxrxnvh

JB Hi-Fi Delivers on First-Half Fiscal 2014 Guidance; Sales up 7%, NPAT Advances 10%.

Feb 3, 2014

After pre-releasing the first-half fiscal 2014 result last week, it comes as no surprise that net profit after tax, or NPAT, is up 10% to AUD 90.3 million. This result is in line with our expectations, and we make no material change to our fair value estimate of AUD 11.00. We consider the company as overvalued trading at a significant premium to our fair value estimate.

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