• MICHAEL HILL: Sales growth.
    MICHAEL HILL: Sales growth.
Close×

Michael Hill International has recorded the biggest annual sales increase in three years.

Sales rose 9.7 per cent to $482.8 million in the 12 months ended June 30, up from $440 million last years.

Same-store sales rose five per cent to $433.9 million.

It is understood the company's relocation to Australia in 2008 generated tax breaks for the New Zealand chain.

Australian sales have risen 4.4 per cent to $302.1 million in the past year.

Canadian sales have increased 37 per cent to $70.4 million, while US sales rose 8.7 per cent to $10.9 million. 

Meanwhile, sales in New Zealand have gained 12 per cent to $99.5 million.

Some of the gains reflected an appreciation in local currencies against the Aussie dollar.

The company expects to release 2014 earnings on August 15.

comments powered by Disqus