Jeweller Michael Hill International today announced a 60% fall in after tax annual profit to $26.51 million, on 7.6% higher operating revenue of $443.33 million.Same store sales for the year ended June 30 were up 5.2% and earnings before interest and tax
Jeweller Michael Hill International today announced a 60% fall in after tax annual profit to $26.51 million, on 7.6% higher operating revenue of $443.33 million.
Same store sales for the year ended June 30 were up 5.2% and earnings before interest and tax were up 38.4% to $36.24 million.
Chairman Michael Hill said achieving sales targets proved difficult during the year with margins under pressure from heavy promotional activity within the industry and retail sector generally.
A final dividend of 2.5 cents per share made the total dividend 4cps, up 2.5cps for 2009.
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