JB Hi-Fi Ltd (ASX:JBH) has booked a record half-year net profit of $87.9 million, up 15.6 per cent on the first-half of 2009/10.

The electronics retailer said it expects to achieve full-year net profit between $134 million and 139 million.

In the six months to 31 December JB Hi-Fi total sales gained 8.3 per cent to $1.68 billion.

JB Hi-Fi said its second-half had begun slowly, but it expected full year net profit to be 13 to 17 per cent higher than 2009/10.

"Sales since the start of January have remained tight as high levels of discounting and the impact of price deflation continued," chief executive Terry Smart said.

"Whilst we anticipate a volatile and competitive market in the second-half, we are confident that the JB model can deliver another record year of sales and earnings."

In the first half of the current financial year, JB Hi-Fi opened 13 stores in Australia and New Zealand, and the company expects to open 15 stores per annum until it reaches its target of 210 branded stores.

‘‘With 67 JB Hi-Fi stores yet to open, the company can look forward to at least four to five years of good sales and earnings growth,’’ Mr Smart said.

Shares in JB Hi-Fi were up 29 cents, or 1.5 per cent, at $19.37 in midday trade, outperforming the general market as well as other retailers.