Ann: QUARTER: MHI: 9 Months trading update to 31

• Release Date: 09/04/14 10:30
• Summary: QUARTER: MHI: 9 Months trading update to 31 March 2014
• Price Sensitive: No
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					MHI
09/04/2014 08:30
QUARTER

REL: 0830 HRS Michael Hill International Limited

QUARTER: MHI: 9 Months trading update to 31 March 2014

Michael Hill International Limited
9 months trading update to 31 March 2014

The below figures represent 8 months accounting adjusted sales results plus
March 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 is subject to ongoing management review, 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 9 months to 31 March
2014:

The following figures are in Australian dollars      Last Year
This Year % Var
Australia same stores     211,412,169   214,471,934    1.4%
New Zealand same stores   68,118,079  75,230,422    10.4%
Canada same stores    35,165,461   41,121,439  16.9%
United States same stores   6,661,030   7,811,137    17.3%
Total same stores         $321,356,739  $338,634,932
5.4%

Australia all stores
221,908,804   233,942,800      5.4%
New Zealand all stores       68,683,574    76,094,916
10.8%
Canada all stores       38,818,291    54,188,760
39.6%
United States all stores
      7,402,814        7,854,362     6.1%
Total all stores      $336,813,483 $372,080,838      10.5%

Exchange rates used for the 9 months:
New Zealand       1.26        1.11
Canada    1.04     0.97
United States         1.04          0.91

The following figures are in local currency       Last Year
    This Year  % Var
Australia same stores  AUD   211,412,169   214,471,934     1.4%
New Zealand same stores    NZD    85,912,526  83,425,502
(2.9%)
Canada same stores    CAD   36,416,661    39,827,275        9.4%
United States same stores    USD     6,919,569      7,115,597     2.8%

Australia all stores
AUD 221,908,804   233,942,800    5.4%
New Zealand all stores   NZD   86,626,040  84,381,393     (2.6%)
Canada all stores       CAD 40,202,597
 52,496,986    30.6%
United States all stores    USD    7,690,290    7,154,643
(7.0%)

Revenue from sale of Professional Care Plans for the 9 months to 31 March
2014:

The following figures are in Australian dollars  Last Year
This Year      % Var
PCP revenue collected    $19,957,267   $24,468,462
22.6%
PCP revenue brought to income     $6,611,830   $13,182,766
        99.4%

The Group achieved steady growth for the 9 months finishing 5.4% up on last
year for the same stores in AUD. This result was helped by the weakening of
the AUD against the other 3 currencies during the period.

Our Professional Care Plan product continues to deliver strong 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 a 10 year notional life for
income recognition purposes).

Sir Michael Hill    08 April 2014
Chairman

All enquiries should be made to Mike Parsell CEO phone +61 403 246655
End CA:00249268 For:MHI    Type:QUARTER    Time:2014-04-09 08:30:17