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NZ's Michael Hill year profit rises
August 15, 2013 / 9:01 PM / 4 years ago

NZ's Michael Hill year profit rises

WELLINGTON, Aug 16 (Reuters) - New Zealand based jewellery retailer Michael Hill International Ltd reported on Friday a 9.6 percent rise in annual profit on the back of higher sales.

The company, which has more than 250 stores in New Zealand, Australia and North America, said net profit for the 12 months to June 30 was NZ$40.0 million ($32.12 million).

Last month it reported a 6.8 percent rise in total sales, but flat same store sales for the 12 months.

The company, controlled by founder Michael Hill and family interests, declared a dividend of 4.0 cents a share against last year’s 3.5 cents. ($1 = 1.2454 New Zealand dollars) (Reporting by Gyles Beckford)

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