Highlights

  • Michael Hill reported FY2026 Revenue of A$655.7 million and comparable EBIT of A$24.0 million.
  • Statutory net profit after tax was A$10.0 million and the company restored a final Dividend of 2.0 cents per share.
  • Early FY2027 trading, Capital Expenditure and continued improvement at Bevilles remain key factors to monitor.

Michael Hill International Limited (ASX:MHJ) reported improved FY2026 profitability alongside higher revenue and the restoration of a dividend. The jeweller is now focused on carrying that operating improvement into FY2027 while continuing work across its Michael Hill and Bevilles brands.

Company Overview

Michael Hill International Limited (ASX:MHJ) operates jewellery retail businesses across Australia, New Zealand and Canada, with Michael Hill and Bevilles as its core brands.

Financial and Operational Position

For the 52 weeks ended 28 June 2026, group revenue reached A$655.7 million. Same-store sales increased 5.2% on a constant-currency basis, while comparable EBIT rose to A$24.0 million. Statutory net profit after tax was A$10.0 million and gross Margin was 60.5%. Net Debt reduced to A$5.5 million. The board declared a final dividend of 2.0 cents per share.

What Investors May Watch Next

Management reported positive same-store sales momentum early in FY2027 and plans further Investment in stores and systems. Investors may monitor whether sales momentum continues, whether Bevilles keeps improving and how additional capital expenditure affects cash generation.

Risks

Jewellery Demand is sensitive to consumer confidence and household spending. Precious-metal input costs, currency movements, store occupancy costs and execution of the Bevilles turnaround can affect margins and earnings.

Key Insights

Michael Hill’s FY2026 result showed higher revenue, improved profitability and a materially lower net debt position. The next phase will depend on whether those gains carry into FY2027 while the group continues investing in its store network and operating systems.