Listed jewellery retailer Michael Hill International has seen
sales increase in the September quarter, with particularly
strong growth in Canada.
Sales lifted 8.7% from $A90.6 million ($NZ103.3 million) to
$A98.5 million ($NZ112.3 million) from the previous
corresponding period, based on an all-stores basis across its
Australia, New Zealand, Canada and United States operations.
Michael Hill shares were up 3c at $1.46 after the
Australia was up 5.5% from $A61.4 million to $A64.7 million,
New Zealand lifted 5.1% from $A17.7 million to $A18.6
million, Canada increased 36.2% from $A9.6 million to $A13
million, while the United States was up 8.6% from $A2 million
to $A2.2 million.
Revenue collected from professional care plans for jewellery
jumped 31.7% from $A5.1 million to $A6.7 million.
Chairman Sir Michael Hill described the quarterly performance
as achieving ''solid growth''. Cash flow remained strong and
the professional care plans were now also contributing
solidly to the group's overall results, he said.