Michael Hill has reported a 0.7% decline in group revenue for the first half of the 2025 financial year.
The company's two largest segments, Australia and Canada, achieved growth, while New Zealand faced challenging retail conditions.
The company's gross profit also decreased by 0.9%.
However, there was a reduction in inventory of $6.6 million.
As a result of the higher annualised operating costs, comparable earnings before interest and tax (ebit) were down 23%.
There was no interim dividend declared.
In the first seven weeks of the second half of the financial year, group same store sales were up 3.2%.
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