JB Hi Fi shares, which tumbled nine percent on Wednesday, reflecting problems with assimilation  of the Good Guys home appliance chain, recovered on the ASX yesterday, finishing the day at $23.65, up 37c, but still well below the peak of $29.23 recorded in January.

Wednesday’s plunge had followed the revelation that JB had cut its forecast for a net profit of $235 million to just $230 million.

JB had acquired The Good Guys in September 2016 in an $870 million deal, and forecast $20 million in synergies over two years.

CEO Richard Murray this week told a Sydney conference that a warm start to winter and discounting had weighed on The Good Guys’ profit margins.