Listed jeweller Michael Hill International has reported an
improved operating profit and interim dividend for the six
months ended December, continuing a recent trend of lifting
its market performance.
Sharebroker Forsyth Barr is recommending Michael Hill
International (MHI) shareholders do not accept the
90c-a-share offer being made by Durante Holdings, a wholly
owned subsidiary of one of the Hill family trusts.
The Arrowtown boundary, adopted by the Queenstown Lakes
District Council in October, has been appealed to the
Environment Court by Michael Hill's family as the Boxer Hill
Trust.
Michael Hill appears to have lost patience with some
shareholders in his listed international jewellery company,
Craigs Investment Partners broker Peter McIntyre says.
Michael Hill International provided some sparkle to the
current reporting season by announcing a much improved
operating profit for the 12 months ended June.
Jewellery entrepreneur Michael Hill is again the richest
individual south of the Waitaki River but he narrowly misses
out being the richest overall, with the Richardson family, of
Southland, edging him out of that spot by a mere $10 million.
Arrowtown entrepreneur Michael Hill is appealing to the
Queenstown Lakes District Council to include his property
within the proposed Arrowtown urban boundary.
Jeweller Michael Hill International reported nine-month same
store sales 5.4 percent up on a year ago at $308.3 million,
while all store sales lifted 8.5 percent to $341.6m.
