Michael Hill International Ltd
ASX:MHJ
Michael Hill International Ltd
Michael Hill International Ltd. engages in the retail sale of jewellery and related services. The company is headquartered in Brisbane, Queensland. The company went IPO on 2016-07-07. The firm operates through three segments: Australia, New Zealand and Canada. The firm offers various products and services under following categories: engagement and weddings, jewelry, gifts and collections. Its engagement and weddings category include engagement rings, promise rings, wedding bands and bridal sets. Its jewelry includes rings, earrings, bracelets and bangles, necklaces and pendants, chains, men's jewelry and watches. Its collections consist of bridal and engagement collections and fashion collections. Its gift category provides various types of gifts for partners, parents, friends and children. The company operates approximately 285 stores and digital platform across Australia, New Zealand and Canada.
Michael Hill International Ltd. engages in the retail sale of jewellery and related services. The company is headquartered in Brisbane, Queensland. The company went IPO on 2016-07-07. The firm operates through three segments: Australia, New Zealand and Canada. The firm offers various products and services under following categories: engagement and weddings, jewelry, gifts and collections. Its engagement and weddings category include engagement rings, promise rings, wedding bands and bridal sets. Its jewelry includes rings, earrings, bracelets and bangles, necklaces and pendants, chains, men's jewelry and watches. Its collections consist of bridal and engagement collections and fashion collections. Its gift category provides various types of gifts for partners, parents, friends and children. The company operates approximately 285 stores and digital platform across Australia, New Zealand and Canada.
Profit Growth: Michael Hill reported comparable EBIT of $31 million, up 28.6% year-on-year, driven by revenue growth and improved operating leverage.
Revenue Momentum: Group revenue rose 3% to $371 million, with all three markets contributing positively and New Zealand returning to growth.
Same-Store Sales: Group same-store sales increased by 3.8%, with Canada up 6.1%, Australia up 4.8%, and New Zealand up 1.8%.
Gross Margin Stability: Gross margin held broadly flat at 61.2%, as higher input costs were offset by promotional discipline and improved product mix.
Cash Position: The group ended the half with net cash of $20.7 million, a $30.5 million improvement from net debt a year prior.
Trading Update: Early second half sales remain strong, with group sales up 4.5% and same-store sales up 6% in the first 8 weeks.
Dividend Outlook: No interim dividend was declared, but management aims to reinstate dividends at full year results if current momentum continues.
Bevilles Performance: Bevilles had a challenging first half but saw clear improvement and is now trading ahead of the group average in Q3.
