JB Hi-Fi shares are up six per cent after the retailer said it expected full-year profit to increase by up to 11 per cent.
JB Hi-Fi on Friday said it expected sales in 2013 to be around $3.3 billion and net profit to be between $112 million and $116 million.
The figures represent a seven per cent to 11 per cent increase in net profit on the prior year.
At 1pm AEST, its shares were up by 94 cents, or six per cent, to $16.43.
The retailer had previously put sales guidance around $3.25 billion and net profit within the range of $108 million to $112 million.
"This updated guidance has been driven by stronger-than-expected sales in the second half of FY13," the company said.
Sales growth in Australia and New Zealand for the four months ended April 30, 2013, was 10.3 per cent.
The company has opened 13 new JB Hi-Fi stores in FY13, all in Australia.
As at June 30, it will have 177 stores - 164 in Australia and 13 in New Zealand.
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