A merry Christmas helps fatten Michael Hill's margins

Michael Hill said a record Christmas period helped increase their sales. (Image: Getty)

Wed, 23 Feb 2022

Michael Hill International sailed through the delta lockdowns on both sides of the Tasman, eking out fatter margins and increased sales with a record Christmas period.The jewellery chain’s revenue rose 2.3% to A$327.1 million (NZ$350.7m) in the 26 weeks ended Dec 26, despite losing a fifth of its trading days due to widespread lockdowns in Australia and New Zealand.Adjusted earnings before interest and tax (ebit) climbed 15.5% to A$51.6m, with the gains driven by its Canadian business. Gross margin widened to 65.1% from 62.7% a year earli...

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