Michael Hill FY profit up 5.8 percent , Australia growth slows

Thu, 16 Aug 2012

By Hannah Lynch Aug. 17 (BusinessDesk) - Michael Hill International, the listed jewellery chain, lifted annual profit by 5.8 percent as recovering sales in New Zealand, Canada and the US made up for shrinking sales in Australia, which will be the current year's focus. Profit rose to $36.5 million in the year ended June 30, from $34.5 million a year earlier, the Brisbane-based company said in a statement. Sales rose 4.5 to $511 million. That compares to analysts' expectations of $36.7 million for reported profit and $515.3 million for sales....

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