Michael Hill 1H earnings creep up on Australian gains, tax dispute lingers

Thu, 14 Feb 2013

By Paul McBeth Feb. 15 (BusinessDesk) - Michael Hill International, the jewellery chain that bears its founder's name, posted a 5.9 percent gain in first-half profit on Australian sales growth and said it is still battling tax departments on both sides of the Tasman over its 2008 restructuring. Net profit rose to $27.8 million, or 7.23 cents per share, in the six months ended Dec. 31, from $26.3 million, or 6.85 cents, a year earlier, Brisbane-based company said in a statement. Earnings before interest and tax of $36 million was at the top l...

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