Monday, August 24, 2009

Jewellery retailer Michael Hill International

Australian retail segment revenue rose 4.3 per cent to $A221.1 million, with ebit up 5.9 per cent to A$33.8 million. Same store sales in local currency increased 0.3 per cent.

The company had 143 stores in Australia after eight new stores opened during the year and one closed.

In Canada, retail segment revenue rose 3.2 per cent to $C25.645 million, while same stores sales in local currency fell 9.8 per cent.

Canadian operations had an operating loss of $C239,000, compared to a profit of $C998,000 for the previous corresponding period.

With four new stores opening during the year, the company's total in Canada rose to 26.

In the US, where MHI bought 17 stores in Illinois and Missouri last September, the retail segment achieved revenue of $US9.1 million for the 10 months and there was an operating loss of $US3.1 million for the same period.

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