• Revenue from contracts with customers down 0.2% to $643.7m
• Earnings before interest and taxation (EBIT) up 32.5% to $18.9m
• Net profit after tax up 538.2% to $2.1m

Michael Hill International Ltd has reported its preliminary final results for the 52 weeks ended 29 June 2025. Revenue from contracts with customers decreased 0.2% to $643.7m, earnings before interest and taxation (EBIT) increased 32.5% to $18.9m, and net profit after tax increased 538.2% to $2.1m. The Group's Australian retail segment delivered revenue of $364.1m, up 1.4%, with same store sales increasing 1.2% for the year. In Canada, the retail segment delivered revenue of $162.4m, up 3.4%, with same store sales increasing 4.4% for the year, another record performance. The New Zealand retail segment saw revenue decrease 5.0% to $109.0m, with same store sales down 5.5% for the year. The Group finished the year with 287 stores (FY24: 300), with 14 stores closed and two stores converted from Michael Hill to Bevilles. Digital sales grew 6% to deliver over $50m for the first time. The Group's focus has been on embedding strong retail fundamentals, introducing new higher margin product, and reducing operating costs to drive sustainable growth.

No high-importance, price-sensitive forward-looking financial metrics were provided.

The Group's primary focus has been on building strong foundations for margin recovery to drive sustainable growth, with a series of initiatives implemented to support improved intake margin, deliver 'uniquely Michael Hill' product newness and mix at higher margins, and disciplined retail execution, all of which is underpinned by a reset of the business's operational rhythm and promotional cadence. The Group has also established an AI Centre of Excellence and is trialling a new consignment stock model to provide immediate and direct working capital benefits.