Michael Hill 1H earnings in line with guidance; invests in US bridal trial

Thu, 13 Feb 2014

Feb. 14 (BusinessDesk) - Michael Hill International, the jewellery chain that bears the name of its founder, posted first-half earnings that met its guidance of last month after lifting sales while investing in a trial of bridal products at its North American outlets. Earnings before interest and tax was A$29.7 million in the six months ended Dec. 31, from A$28.6 million a year earlier, the Brisbane-based company said in a statement. Sales rose 9.8 percent to A$270.8 million. Net profit dropped about 26 percent to $16.2 million, mainly refle...

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