Michael Hill has announced its annual trading update for FY2018 with the business reporting a revenue increase of 3.3% for the year.

According to the report, the Michael Hill business recorded a total global revenue of $582.8 million for the year while Emma & Roe revenue totalled $16.9 million globally.

In Australia, Michael Hill reported that it saw total sales up 1.1% on last year totalling $325.5 million and down 0.9% for same store sales compared to 2017 totalling $303.8 million.

The company also revealed that it had opened seven new Michael Hill stores across Australia during the year while also closing two stores giving the brand a total of 171 stores trading at the end of the year.

For Emma & Roe, the company announced that it had completed the exit of 24 Emma & Roe stores and would also be closing the remaining six stores in the coming months.

The Emma & Roe business saw total sales rise 10.6% on results from 2017 with the business reporting a total figure of $16.4 million.

For same store sales, the business reported a growth of 3%, with same store figures accounting for $5.7 million in sales.

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