Electronics retailer, Dick Smith, says it is well placed for profit growth after making a $19.8 million net profit in its maiden result as a listed company.

The company’s shareholders will get a fully franked eight cent a share dividend.

The company’s sales were ahead of prospectus forecasts given when it listed on the share market in December.

Dick Smith CEO, Nick Abboud, said the company had delivered strong growth across all aspects of the business.

“Particularly pleasing is the improving trend in Australian sales during the year, with growth accelerating from 2.4 per cent in the first quarter to 3.3 per cent in the second quarter, 11.7 per cent in the third quarter and 15.4 per cent in the fourth quarter,” he said.

Total sales grew 4.2 per cent to $1.23 billion, 0.1 per cent ahead of prospectus.

Dick Smith’s market share in computer hardware had grown to more than six per cent, he said.

Dick Smith has 377 stores across Australia and New Zealand with 54 opened in the last year.

Abboud said the company well placed to deliver further strong profit growth with fiscal 2015 starting strongly and through like for like sales growth and the full year impact of the new stores.

Another 20 new stores were expected to open this year.

“It is particularly pleasing to see the strong sales growth performance experienced in the second half of the year continuing in to this year,” Abboud said.