Electronics retailer JB Hi-Fi posted a net profit drop of 5 per cent of $104.6 million for the financial year just ended, slightly more than analysts' forecasts.

JB Hi-Fi shares jumped as much as 62 cents, or 6.7 per cent, to $9.56.

Sales for the year rose 7 per cent to $3.13 billion as it opened more shops. Analysts had tipped the annual profit would come in at $103.4 million after the retailer had updated the market on its prospects.

The company predicts sales will growth this financial year. Still JB Hi-Fi has been battling a weak retail environment with so-called same-store sales down 1 per cent in the 2011-12 financial year from a year earlier.

Chief executive Terry Smart said total sales would continue to grow in the 2012-13 financial year to about $3.3 billion, but comparable sales were expected to again drop by 1 per cent.