Ann: QUARTER: MHI: 12 months trading update to 30

• Release Date: 09/07/13 15:20
• Summary: QUARTER: MHI: 12 months trading update to 30 June 2013
• Price Sensitive: No
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MHI
09/07/2013 13:20
QUARTER

REL: 1320 HRS Michael Hill International Limited

QUARTER: MHI: 12 months trading update to 30 June 2013

Michael Hill International Limited
12 months trading update to 30 June 2013

Note that the below figures represent 11 months accounting adjusted sales
results plus Junepreliminary sales figures prior to final accounting
adjustments. The below figures are unaudited.Same stores and all stores
revenue figures stated below include the Professional Care Plan (PCP)
revenues brought to income during the period based on an estimated pattern of
recognition.

Revenue from sale of goods and services for the 12 months to 30June 2013:

The following figures are in NZ dollars       Last Year       This Year
% Var
Australia same stores   319,731,519 321,273,889  0.5%
New Zealand same stores     108,049,715 109,228,722  1.1%
Canada same stores 52,095,668 51,136,868  (1.8%)
United States same stores     10,826,840 11,044,664  2.0%
Total same stores     $490,703,742 $492,684,143  0.4%

Australia all stores
331,018,099 355,100,461  7.3%
New Zealand all stores    109,110,440 110,501,371  1.3%
Canada all stores      55,124,222 63,600,526  15.4%
United States all stores
11,998,659 12,337,271  2.8%
Total all stores     $507,251,421 $541,539,629  6.8%

Exchange rates used for the 12 months:
Australia  0.78 0.80
Canada       0.80  0.83
United States      0.80   0.82

The following figures are in local currency   Last Year      This Year  %
Var
Australia same stores  AUD 248,592,841 257,140,948  3.4%
New Zealand same stores    NZD        108,049,715 109,228,722 1.1%
Canada same stores     CAD 41,840,248 42,189,547  0.8%
United States same stores    USD  8,638,925 9,094,341  5.3%

Australia all stores   AUD    257,365,032 284,318,778
10.5%
New Zealand all stores   NZD 109,110,440 110,501,371  1.3%
Canada all stores     CAD 44,264,994 52,509,541 18.6%
United States all stores    USD 9,576,257 10,158,838   6.1%

Revenue from sale of Professional Care Plans for the 12 months to 30June
2013:

The following figures are in NZ dollars   Last Year    This Year      % Var
PCP revenue collected    $26,955,284 $33,072,435  22.7%
PCP revenue brought to income $6,025,417 $11,965,854  98.6%

Sales in the fourth quarter were difficult for the Group with flat sales
growth in the key Australian market and negative growth in the other three
markets for the quarter.

The year finished slightly up for the Group in NZD and all markets finished
with positive sales growth in local currency on a same store basis and it was
pleasing that these sales were achieved on a higher margin. The contribution
from new stores opened during the year resulted in revenue lifting by
6.8%.The directors are satisfied with the performance over the past 12 months
especially given theongoing challenging environment.

Cash flow remains strong and our Professional Care Plan product continuesto
deliver good cash flow to the business andis now also contributing solidly
tothe Group's 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 and lifetime plans).

It should be noted that PCP revenue is brought to account to the current
period based on estimated use of plans over their lifetimes. The amount of
PCP revenue included in the above revenue numbers is based on existing
estimates and these estimates will be subject to review as part of year end
accounts preparation.
The full year results for the 12 months ending 30June 2013 are due for
release to the NZX on the 16th August, 2013.

Sir Michael Hill    9July 2013
Chairman

All enquiries should be made to Mike Parsell CEO phone +61 403 246655
End CA:00238367 For:MHI    Type:QUARTER    Time:2013-07-09 13:20:42