Michael Hill shares jump 7% after 1H profit rises 46%

Thu, 12 Feb 2015

By Tina Morrison Feb. 13 (BusinessDesk) - Michael Hill International shares jumped as much as 7 percent after the jewellery chain posted a 46 percent rise in first-half profit. The company's stock advanced 8 cents to a two-month high of $1.23 and recently traded at $1.19. Brisbane-based Michael Hill said profit rose to A$23.7 million in the six months ended Dec. 31, from A$16.2 million in the year earlier period. Revenue increased 4.6 percent to A$283.2 million. Michael Hill's Australian unit, which accounts for about 60 percent of rev...

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