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.