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 1300 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 in a statement.

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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