Michael Hill warns of A$20 mln hit to first-half earnings on US exit, Emma & Roe closures

Thu, 08 Feb 2018

By Paul McBeth Feb. 8 (BusinessDesk) - Michael Hill International expects first-half earnings will more than halve with A$20 million coming from the jewellery chain's exit from the US and scaling back its Emma & Roe branded store footprint. The Brisbane-based company said earnings before interest and tax was about A$20 million in the six months ended Dec. 31, down from A$40 million a year earlier. Of that, about A$8.4 million arises from onerous lease provisions and another A$11.4 million from impairment charges on property, plant and eq...

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