WELLINGTON Feb 15 New Zealand based jewelry
retailer Michael Hill International Ltd first half
profit rose nearly 6 percent on higher sales, the company said
The company, which has stores in New Zealand, Australia and
North America, said net profit for the six months to Dec 31 was
NZ$27.8 million ($23.6 million) compared with the previous
year's NZ$26.3 million.
In January, Michael Hill International forecast a slight
lift in half year earnings before interest and tax (EBIT) after
a 2.6 percent rise in same store sales, which it said was
pleasing but below its expectations.
Earnings before interest and tax (EBIT) were NZ$36 million,
at the top end of the guidance range given last month.
The company, controlled by founder Michael Hill and family
interests, declared a dividend of 2.5 cents a share against last
year's 2 cents.
Michael Hill shares closed on Thursday at NZ$1.23, down
around 1 percent for the year, against a 4 percent gain for the
benchmark NZX-50 index.