Revenue soars as Michael Hill locks in strong margins
Michael Hill International has reported a $37.5 million half year profit on the back of soaring revenue.
Feb 27, 2023, updated Feb 27, 2023
Michael Hill chief executive Daniel Bracken
The jewelry retailer said revenue jumped 11 per cent to $363 million and earning before interest and tax was up 5.3 per cent to $58.7 million.
A dividend of 4 cents a share, unfranked would be paid.
Managing director Daniel Bracken said the impacts of Covid were now behind the company.
He said he was particularly pleased that elevated gross margins had been sustained.
In its outlook, the company said that as long as retail conditions did not materially deteriorate, it was anticipated that its full year result would be ahead of the previous year.
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