Key points
- Record revenue of $655.7m, up 1.9% year-on-year
- Comparable EBIT up 57% to $24.0m
- Dividend restored at 2.0 cents per share
- Net debt reduced by $36.3m to $5.5m
- Positive same store sales growth across all markets
Full summary
Michael Hill International Ltd reported its FY26 results, highlighting a 1.9% increase in group revenue to a record $655.7m, with same store sales growth of 3.0% and 5.2% on a constant currency basis. Comparable EBIT rose 57% to $24.0m, and statutory net profit after tax surged 376% to $10.0m. The company also restored dividends at 2.0 cents per share and reduced net debt by $36.3m to $5.5m. Online sales grew to 8.7% of total sales, and gross margin held steady at 60.5%. The company's strategic simplification and focus on core brands contributed to the improved performance.
Guidance
Comparable EBIT up 57%, statutory NPAT up 376%, revenue up 1.9%, net debt down $36.3m
Outlook
Management expects continued profitable growth through FY27, with gross margins strengthening and same store sales up in local currency.