8 Oct 2010

Higher sales reported by jeweller

7:10 am on 8 October 2010

Shares in Michael Hill International rose almost 5% on Thursday, after the company reported a jump in sales.

The listed jeweller said revenue rose 13% to $95.4 million in the three months to September, compared with the same period a year ago.

Sales at stores open at least a year rose 14%, with gains in markets, Australia, New Zealand, Canada and the United States.

However, MHI warns Christmas is the most critical trading period for the company and will largely determine how profitable it will be.