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Articles from DIAMOND JEWELLERY (1024 Articles), GOLD JEWELLERY (714 Articles)










Michael Hill reported a positive result for the end of financial year, despite difficult sales in the fourth quarter
Michael Hill reported a positive result for the end of financial year, despite difficult sales in the fourth quarter

Michael Hill “satisfied” with FY results

Michael Hill International has reported a 6.8 per cent increase in revenue for the financial year ending 30 June 2013, even though sales were said to be difficult in all of its markets during the fourth quarter. 
The company directors were reportedly satisfied with the performance results, especially given the “ongoing challenging environment”. 

Specific figures for the final quarter have not yet been released, but according to a company statement, sales were flat in Australia and negative in New Zealand, Canada and the US. 

Overall sales for the year increased to NZ$542 million (A$464.5m). Same-store revenue for the New Zealand stock-exchanged listed retailer rose 0.4 per cent to NZ$493 million (A$421.9m). 

In local currency terms, Australian sales increased 10.5 per cent, New Zealand revenue rose by 1.3 per cent, Canadian sales were up 18.6 per cent and US revenue gained 6.1 per cent.

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