Ann: QUARTER: MHI: 12 months Trading update to 30 June 2014

• Release Date: 08/07/14 11:37
• Summary: QUARTER: MHI: 12 months Trading update to 30 June 2014
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					MHI
08/07/2014 11:37
QUARTER

REL: 1137 HRS Michael Hill International Limited

QUARTER: MHI: 12 months Trading update to 30 June 2014

Michael Hill International Limited
12 months trading update to 30 June 2014

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

The Group achieved growth of 5.0% for the 12 months for the same stores in
AUD. Australia traded 0.8% up on the same period last year in local currency
while Canada experienced strong growth finishing 10.1% up for the half. Our
New Zealand store performance improved in the June quarter with a 2.5%
increase over the corresponding period but finished 1.9% down on last year
for the 12 months in local currency. The US business performed solidly with
same stores finishing 5.8% up for the year.

Revenue from the sale of goods and services for the 12 months to 30 June 2014
including PCP income:

The following figures are in Australian dollars      Last Year
This Year % Var
Australia same stores     271,546,132   273,773,682   0.8%
New Zealand same stores   88,510,273  98,331,122    11.1%
Canada same stores    45,797,740   53,019,510  15.8%
United States same stores   7,403,849   8,767,804    18.4%
Total same stores         $413,257,994 $433,892,118
5.0%

Australia all stores
289,333,164   302,058,677      4.4%
New Zealand all stores       89,203,882    99,476,649
11.5%
Canada all stores       51,438,247    70,425,250
36.9%
United States all stores
    10,006,731    10,881,350   8.7%
Total all stores      $439,982,024 $482,841,926        9.7%

Exchange rates used for the 12 months:
New Zealand       1.25        1.10
Canada    1.03     0.98
United States         1.03          0.92

The following figures are in local currency       Last Year
    This Year  % Var
Australia same stores  AUD   271,546,132   273,773,682        0.8%
New Zealand same stores    NZD  110,488,429   108,412,651
(1.9%)
Canada same stores    CAD   47,160,976    51,918,037      10.1%
United States same stores    USD     7,593,619      8,037,761     5.8%

Australia all stores
AUD 289,333,164   302,058,677    4.4%
New Zealand all stores   NZD 111,356,600   109,671,778   (1.5%)
Canada all stores       CAD 52,949,630
 68,996,056    30.3%
United States all stores    USD  10,265,419   9,977,294
(2.8%)*
 * One store was closed in June 2013 hence the fall in revenue for "all
stores"

Revenue from sale of Professional Care Plans for the 12 months to 30 June
2014:

The following figures are in Australian dollars  Last Year
This Year      % Var
PCP revenue collected    $26,520,120   $31,718,986
19.6%
PCP revenue brought to income   $13,185,476   $19,954,389
       51.3%

Our Professional Care Plan revenue 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).

The above figures represent 11 months accounting adjusted sales results plus
June preliminary sales figures prior to final accounting adjustments and are
unaudited. Same stores and all stores revenue figures stated above 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 year end. The prior period PCP revenue stated above is included at the
estimated amounts under the income recognition pattern used and reported on
at the time.

Sir Michael Hill    8 July 2014
Chairman
All enquiries should be made to Phil Taylor CFO phone +61 413 709066
End CA:00252545 For:MHI    Type:QUARTER    Time:2014-07-08 11:37:42