10 Apr 2010

Michael Hill reports higher sales

10:59 am on 10 April 2010

Sales at Michael Hill International rose 8.5% in the nine months to March, compared to the same period a year ago.

The listed jewellery retailer made sales of almost $342 million in the period - up from $315 million at the same time the previous year.

Sales figures for stores open since before June 2009, rose to just over $308 million.

This compares to $292.5 million last year - an increase of 5.4%.

The company says there was good sales growth in the New Zealand and Australian markets in the last quarter, but conditions for the Canadian business remain difficult.

It also saw some growth in margins as the effects of the global financial crisis start to abate.