Michael Hill buys Australian jeweller Bevilles

Michael Hill buys Australian jeweller Bevilles
Michael Hill chair Robert Fyfe said that the Bevilles store network was under-penetrated and ready for growth. (Image: BusinessDesk)
Greg Hurrell
Michael Hill International has snapped up Australian jewellery and watch retailer Bevilles for a net enterprise value of A$45.1 million (NZ$49m).The purchase of the family-owned Bevilles by the dual NZX/ASX-listed jeweller is expected to generate A$60-$65m in sales, and adjusted underlying earnings before interest, tax, depreciation and amortisation (Ebitda) of A$7.5m-$8.5m for the June 26, 2023, financial year. That price represented around 5.6 times the expected adjusted underlying Ebitda for the 2023 year. Michael Hill predicted th...

More Markets

Reserve Bank casts shadow over NZ sharemarket
Markets Market close

Reserve Bank casts shadow over NZ sharemarket

After a strong start, the sharemarket dipped following the RBNZ's MPS.

Fisher & Paykel ups pre-Christmas dividend
Markets

Fisher & Paykel ups pre-Christmas dividend

And employees will get a share of $4 million.

ERoad half-year earnings reflect straighter steering
Markets

ERoad half-year earnings reflect straighter steering

Cash burn under control, strong potential in North America.

Ben Moore 11:10am
Ryman Healthcare cites ‘challenging’ housing market in 4pc net profit drop
Markets

Ryman Healthcare cites ‘challenging’ housing market in 4pc net profit drop

New Zealand’s largest listed retirement company cited the “challenging” housing market in declaring net profit down 4% and downgrading its profit outlook.Ryman Healthcare’s reported net profit after tax fell 4% from $193 million a year ago to $186.7m for the six months to Sept 30...