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

• Release Date: 12/04/12 10:30
• Summary: QUARTER: MHI: 9 Months Trading update to 31 March 2012
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MHI
12/04/2012 08:30
QUARTER

REL: 0830 HRS Michael Hill International Limited

QUARTER: MHI: 9 Months Trading update to 31 March 2012

Michael Hill International Limited
9 months trading update to 31 March 2012

Note that these figures represent 8 months accounting adjusted sales results
plus March preliminary sales figures prior to final accounting adjustments
and are unaudited. Sales figures stated below include the current portion of
Professional Care Plan (PCP) revenues.

Revenue from sale of goods for the half year to 31 March 2012:

The following figures are in NZ Dollars      Last Year      This
Year    % Var
Australia same stores     246,305,510    239,536,584   (2.7%)
New Zealand same stores   75,183,061  81,878,826     8.9%
Canada same stores     34,296,202      34,582,544      0.8%
United States same stores   8,071,297   8,893,244    10.2%
Total same stores        $363,856,070  $364,891,197  0.3%

Australia all stores
250,730,936    257,206,872 2.6%
New Zealand all stores       77,595,369     83,733,860
 7.9%
Canada all stores     35,850,316   41,495,539 15.7%

United States all stores
      8,017,905        8,913,259    11.2%
Total all stores     $372,194,525  $391,349,530       5.1%

Exchange rates used for the 9 months:
Australia      0.77          0.78
Canada    0.76        0.80
USA        0.75     0.80

The following figures are in local currency         Last Year
 This Year    % Var
Australia same stores  AUD  190,410,267    185,854,739   (2.4%)
New Zealand same stores    NZD   75,183,061  81,878,826
8.9%
Canada same stores     CAD    26,142,612      27,824,642  6.4%
United States same stores    USD      6,063,169        7,124,054   17.5%

Australia all stores      AUD
193,787,039    199,554,098     3.0%
New Zealand all stores   NZD    77,595,369    83,733,860       7.9%
Canada all stores      CAD 27,323,263
  33,388,461  22.2%
United States all stores    USD     6,023,682      7,139,860
18.5%

Third quarter sales were satisfactory in New Zealand, Canada and the US
however the Australian market continued to be difficult for the Group due to
the ongoing tight retail conditions. This sluggishness in the Australian
market has resulted in our Group "same store" sales being flat for the 9
months, however the directors are pleased with the solid growth achieved in
the other three markets. Cash flow continues to grow for the Group due
primarily to the ongoing success of the Professional Care Plan (PCP) product
launched in October of 2010. Details of our PCP sales and income for the
period are noted below.

The revenue from the PCP product is carried on the balance sheet as deferred
revenue and then brought to income over the life of the plans (3 Year and
Life Time).

The following figures are in NZ Dollars       Last Year  This
Year    % Var
PCP Revenue collected for the 9 months     NZD    6,571,175
20,212,266     208%
PCP Revenue brought to income for the 9 months      NZD     0
 2,750,843

Sir Michael Hill  12 April 2012
Chairman

All enquiries should be made to Mike Parsell CEO phone +61 403 246655
End CA:00221731 For:MHI    Type:QUARTER    Time:2012-04-12 08:30:11