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Friday, 20th August 2004 (6158 views)

New Zealand jewellery retailer Michael Hill has reported a 30 per cent increase as it announced record annual profits.<BR/><BR/>The company attributes strong sales in its Australian stores to the record results, with net profit reaching NZ$15.06 million for the year to June 30, 2004.<BR/><BR/>Additional figures showed sales in Australia jumped 19 per cent to NZ$167.21 million.<BR/><BR/>The firm hopes to open an additional 15 stores across its three operating countries of Australia, Canada and New Zealand this year<BR/><BR/>Although no new stores were opened during the year, the retailer still increased revenue by 3.5 per cent to NZ$86.71 million.<BR/><BR/>At present the company has 93 stores in Australia, but has found 140 sites with the aim of opening 12 stores a year over the next four years.<br/><img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3262422"/>

 

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