Ann: QUARTER: MHI: 3 months trading update to 30

• Release Date: 11/10/13 14:41
• Summary: QUARTER: MHI: 3 months trading update to 30 September 2013
• Price Sensitive: No
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					MHI
11/10/2013 12:41
QUARTER

REL: 1241 HRS Michael Hill International Limited

QUARTER: MHI: 3  months trading update to 30 September 2013

3 months trading update to 30 September 2013

The below figures represent 2 months accounting adjusted sales results plus
September preliminary sales figures prior to final accounting adjustments and
are unaudited. Same stores and all stores revenue figures stated below
include the Professional Care Plan (PCP) revenues brought to income during
the period.  The PCP income recognition pattern is based on existing
estimates and subject to ongoing management reviews and accordingly may be
adjusted at half year and year end. The prior period PCP revenue stated below
is included at the estimated amounts under the income recognition pattern
used and reported on at the time.

In line with the market announcement on 3 October 2013, the Group numbers
below are reported in Australian dollars.

Revenue from the sale of goods and services for the 3 months to 30 September
2013:

The following figures are in Australian dollars      Last Year
This Year % Var
Australia same stores       59,543,829      60,183,650      1.1%
New Zealand same stores   17,628,665  18,517,320      5.0%
Canada same stores       9,399,281     10,818,542    15.1%
United States same stores   1,775,706   2,155,811    21.4%
Total same stores   $88,347,481    $91,675,323
3.8%

Australia all stores
61,369,042     64,718,588      5.5%
New Zealand all stores       17,661,287    18,559,669
5.1%
Canada all stores         9,580,949    13,049,267
36.2%
United States all stores
      1,983,014       2,152,814     8.6%
Total all stores       $90,594,292   $98,480,338  8.7%

Exchange rates used for the 3 months:
New Zealand       1.28        1.15
Canada    1.03     0.95
United States         1.04          0.92

The following figures are in local currency         Last Year
       This Year    % Var
Australia same stores  AUD  59,543,829 60,183,650        1.1%
New Zealand same stores    NZD  22,623,440     21,228,962
(6.2%)
Canada same stores     CAD     9,710,436     10,284,027  5.9%
United States same stores    USD     1,841,461      1,973,756    7.2%

Australia all stores
AUD   61,369,042     64,718,588      5.5%
New Zealand all stores   NZD   22,665,410  21,277,326    (6.1%)
Canada all stores      CAD  9,895,766
 12,406,901 25.4%
United States all stores    USD    2,056,816    1,971,011   (4.2%)
*
* One store was closed in June 2013 hence the fall in revenue for "all
stores"

Revenue from sale of Professional Care Plans for the 3 months to 30 September
2013:

The following figures are in Australian dollars  Last Year
This Year      % Var
PCP revenue collected      $5,069,333   $6,676,219
31.7%
PCP revenue brought to income     $1,800,150  $3,929,059
     118.3%

The Group achieved solid growth for the quarter finishing 3.8% up on last
year for the same stores. Australia traded slightly up on the same quarter
last year while Canada and the US continue to show good growth on a same
store basis. Our New Zealand stores were unable to maintain the momentum
shown in prior quarters and ended the period 6.2% down on the prior period.

Cash flow remains strong and our Professional Care Plan product continues to
deliver good cash flow to the business and is now also contributing solidly
to the Group's overall results.  The revenue from these plans is carried on
the balance sheet as deferred revenue and is then brought to income over the
life of the plans (3 year plans, and lifetime plans which are assigned 10
year notional life for income recognition purposes).

Sir Michael Hill    11 October 2013
Chairman

All enquiries should be made to Mike Parsell CEO phone +61 403 246655
End CA:00242272 For:MHI    Type:QUARTER    Time:2013-10-11 12:41:28