JB Hi-Fi’s new chief executive Terry Smart is unfazed at the prospect of overseeing weaker sales and profits in his first year back at the helm, saying the 2021 fiscal year was “extraordinary” and its record volumes would not be repeated.

JB Hi-Fi delivered its eighth consecutive year of record profit growth in 2021 as consumers switched from setting up their home offices during the initial phase of the pandemic to keeping themselves entertained and connected during subsequent lockdowns by splashing out on mobile phones, computers, games hardware, TVs, small appliances and music.