Michael Hill International (ASX:MHJ) see NPAT rise 19.6%

Company News

by Rachael Jones

Jeweller Michael Hill International (ASX:MHJ) today announced its half year financial results period ending 29 December 2019 showing statutory net profit after tax increased by 19.6 per cent to $21.4 million, up from $17.9 million in the same corresponding period.

Group operating revenues increased by 4.4 per cent for the half to $329.5 million up from $315.4 million.

E-commerce sales on the Michael Hill website (excluding Emma & Roe product) increased by 44.3 per cent to $9.7 million.

One Michael Hill store opened in Canada and three under-performing stores were closed in Australia during that period, giving a total of 304 stores trading at 29 December 2019.

Shares in Michael Hill International (ASX:MHJ) closed 5 per cent lower at 57 cents yesterday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.