News: JBH UPDATE 1-JB Hi-Fi annual profit soars, but COVID curbs slow sales since July

(Adds details on results, YTD trading, background)

Aug 16 (Reuters) - Australian electronics retailer JB Hi-Fi Ltd (JBH) on Monday posted a 67.4% jump in annual profit and hiked its dividend by nearly a fifth, but reported a drop in domestic sales since July amid COVID-19 related lockdowns.

Electronics and household goods providers benefited last year as pandemic-driven work from home and strong household savings kept their sales afloat, though recent curbs are expected to damage September-quarter retail sales.

JB Hi-Fi "has experienced some disruption and variability to sales as a result of the various state-based COVID restrictions," it said in a statement.

New South Wales, the country's most populous state, on Saturday extended strict stay-at-home orders to control the spread of the Delta variant, while curbs also remain in other major cities.

The company said sales at its JB HI-FI Australia and The Good Guys units had fallen 14.6% and 8.1% respectively since July 1.

Net profit after tax rose to A$506.1 million ($373.10 million) for the year to June 30 from A$302.3 million a year earlier. Online sales soared 78.1% to A$1.1 billion.

It paid a final dividend of 107 Australian cents per share, up from 90 Australian cents last year.

($1 = 1.3565 Australian dollars)