NZ market drags lower as Michael Hill sparkles

(Image: Getty)

Mon, 27 Feb 2023

While New Zealand’s market was dragged down by international headwinds, retail jeweller Michael Hill bounced up almost 6% today.The S&P/NZX 50 index fell 112.4 points, or 0.9%, to 11,793.33. Turnover was $126.7 million.Michael Hill released its first-half results today and even though the retail jeweller has lost thousands of trading days worldwide since the pandemic, it still reported record revenue.Earnings before interest and tax (Ebit) came to A$54.5m (NZ$59.5m) – up 6% from the previous comparable period.Peter McIntyre, an...

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