MHI
10/10/2014 11:54
QUARTER
REL: 1154 HRS Michael Hill International Limited
QUARTER: MHI: 3 Months Trading Update to 30 September 2014
Michael Hill International Limited
3 months trading update to 30 September 2014
The Group achieved same store sales growth of 0.3% for the 3 months in AUD.
In local currency New Zealand traded 2.4% up on the same period last year
while Canada experienced good growth finishing 6.5% up for the quarter. The
US achieved strong growth finishing 12.0% up for the quarter but Australia
continued to be a difficult market for the group and sales were 2.0% down for
the quarter.
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 revenue for the Emma & Roe stores.
Revenue from the sale of goods and services for Michael Hill Stores for the 3
months to 30 September 2014 including PCP income:
The following figures are in Australian dollars Last Year
This Year % Var
Australia same stores 63,287,597 62,006,343 (2.0%)
New Zealand same stores 18,406,082 19,690,641 7.0%
Canada same stores 12,465,462 12,533,485 0.5%
United States same stores 1,813,885 2,006,768 10.6%
Michael Hill same stores $95,973,026 $96,237,237
0.3%
Australia all stores
64,063,215 64,046,421 (0.0%)
New Zealand all stores 18,529,186 19,843,513
7.1%
Canada all stores 13,062,972 15,178,862
16.2%
United States all stores
2,152,461 2,625,731 22.0%
Michael Hill all stores $97,807,834 $101,694,527
4.0%
Exchange rates used for the 3 months:
New Zealand 1.15 1.10
Canada 0.95 1.01
United States 0.92 0.93
The following figures are in local currency Last Year
This Year % Var
Australia same stores AUD 63,287,597 62,006,343 (2.0%)
New Zealand same stores NZD 21,101,574 21,606,845
2.4%
Canada same stores CAD 11,849,416 12,617,971 6.5%
United States same stores USD 1,660,840 1,860,416 12.0%
Australia all stores
AUD 64,063,215 64,046,421 (0.0%)
New Zealand all stores NZD 21,242,519 21,774,350 2.5%
Canada all stores CAD 12,419,908
15,281,395 23.0%
United States all stores USD 1,970,683 2,433,947 23.5%
The above figures represent 2 months accounting adjusted sales results plus
September preliminary sales figures prior to final accounting adjustments and
are unaudited. 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 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 10 October 2014
Chairman
All enquiries should be made to Mike Parsell, CEO phone +61 403 246655
End CA:00256305 For:MHI Type:QUARTER Time:2014-10-10 11:54:58
