Ann: QUARTER: MHI: 3 Months Trading Update to 30 September 2014

• Release Date: 10/10/14 11:54
• Summary: QUARTER: MHI: 3 Months Trading Update to 30 September 2014
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					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