Michael Hill (NZX:MHJ) Half-Year Highlights- Revenue Down, Profit Up

Source: © PhotoMIX-Company | pixabay.com

Michael Hill International Limited (NZX:MHJ) has released its half-year report for the six months ending 27 December 2020. The Company reported lower revenue but higher profit.

Highlights of the Company’s report include:

  • Revenue fell 2.9% to NZ$319.9 million compared to NZ$329.5 million in the previous corresponding period. The Company credits the Covid-related store closures as the reason for the slight drop in revenue.
  • Revenue derived from NZ and Canada fell 0.9% and 5.9%, respectively. Revenue derived from Australia rose by 0.5%.
  • NPAT lifted 82.1% to NZ$39.0 million thanks to increased margins and tight controls over expenditure.
  • The Company announced a dividend of AU$0.015 per share, equal to the previous corresponding period.
  • The jewellery house has closed 15 stores since December 2019. Australian stores accounted for 11 of the 15 closed.

On 24 February, at the time of writing Michael Hill shares were trading at $0.77, increasing by 1.32%.


Disclaimer
The website https://kalkinemedia.com/nz is a service of Kalkine Media New Zealand Limited (Kalkine Media), Company Number: 8107196. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.
   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK