Ann: QUARTER: MHI: 6 Months Trading update to 31 December 2014

• Release Date: 09/01/15 08:30
• Summary: QUARTER: MHI: 6 Months Trading update to 31 December 2014
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					MHI
09/01/2015 08:30
QUARTER
PRICE SENSITIVE
REL: 0830 HRS Michael Hill International Limited

QUARTER: MHI: 6 Months Trading update to 31 December 2014

Michael Hill International Limited
  6 months trading update to 31 December 2014

The Group achieved same store sales growth of 0.8% for the 6 months in AUD.
In local currency, New Zealand stores traded 4.1% up on the same period last
year while Canada continued to experience solid growth finishing 4.4% up for
the half year. The US achieved strong growth finishing 9.1% up for the half
year, however Australia continued to be a difficult market and same store
sales were 2.1% down on the prior period. Eight new stores were opened during
the period and one closed. There were 285 Michael Hill stores trading at 31
December 2014.

As mentioned in the 2014 Annual Report, the Group is continuing to refine and
test the Emma & Roe retail model and consequently this trading update does
not include financial information for the Emma & Roe stores.

As previously announced, the preliminary half year results for the 6 months
ending 31/12/14 will be released to the NZX on Friday 13 February, 2015.

Revenue from the sale of goods and services by Michael Hill Stores for the 6
months to 31 December 2014 including PCP income:

The following figures are in Australian dollars      Last Year
This Year % Var
Australia same stores     166,574,835    163,086,147        (2.1%)
New Zealand same stores   53,620,694  57,597,391      7.4%
Canada same stores    35,347,063   36,241,877    2.5%
United States same stores   4,552,888   5,196,566    14.1%
Michael Hill same stores       $260,095,480 $262,121,981
  0.8%

Australia all stores
169,768,935   168,637,663     (0.7%)
New Zealand all stores       54,229,441    58,045,868
7.0%
Canada all stores       39,392,160    45,857,387
16.4%
United States all stores
      5,485,837       6,785,933   23.7%
Michael Hill all stores     $268,876,373 $279,326,851
3.9%

Exchange rates used for the 6 months:
New Zealand       1.12        1.09
Canada    0.96     0.98
United States         0.92          0.88

The following figures are in local currency       Last Year
    This Year  % Var
Australia same stores  AUD   166,574,835   163,086,147  (2.1%)
New Zealand same stores    NZD    60,257,625  62,751,477
4.1%
Canada same stores    CAD   33,979,844    35,477,740        4.4%
United States same stores    USD     4,175,820      4,557,542     9.1%

Australia all stores
AUD 169,768,935   168,637,663   (0.7%)
New Zealand all stores   NZD   60,938,964  63,238,564       3.8%
Canada all stores       CAD 37,869,346
 44,873,993    18.5%
United States all stores    USD    5,029,956    5,957,139 18.4%

The above figures represent 5 months accounting adjusted sales results plus
December preliminary sales figures prior to final accounting adjustments and
are unaudited. Revenue figures stated above include the Professional Care
Plan (PCP) revenue brought to income during the period.  The PCP income
recognition pattern is based on existing estimates and is subject to ongoing
management review, and accordingly may be adjusted at year end. The prior
period PCP revenue included in the results above is at the estimated amounts
under the income recognition pattern used and reported on at the time.

Sir Michael Hill    9 January 2015
Chairman
All enquiries should be made to Mike Parsell CEO phone +61 403 246655
End CA:00259626 For:MHI    Type:QUARTER    Time:2015-01-09 08:30:05