Michael Hill shares jump on better than expected earnings

Tue, 26 Feb 2019

By Rebecca Howard Feb. 27 (BusinessDesk) - Shares in Michael Hill International jumped 10 percent after the jeweller reported better than expected first-half earnings and maintained its dividend. The company said its underlying earnings before interest and tax fell 16 percent to A$29.6 million, due to weak trading performance in the July to October period when it veered away from discounting However, a "refined approach" to its strategy saw an improvement in November and December. Same-store sales declined by 6.1 percent but the declin...

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