Michael Hill posts revenue of $655.7M in FY26

• Michael Hill International reported record group revenue of $655.7 million for FY26, alongside a comparable EBIT of $24 million.
• The statutory net profit after tax surged 376% to $10 million, enabling the retailer to restore its final dividend to 2 cents per share.
• The performance was driven by same-store sales growth across all operating markets and strict operational cost management.

Jewellery retailer Michael Hill International (ASX:MHJ) delivered record group revenue of $655.7 million for the financial year ended June 28, up 1.9% on the prior year.

The top-line growth compares to revenue of $643.7 million in FY25, while same-store sales rose 3.0% globally.

"The turnaround is taking hold; there's still plenty more for us to do, and I'm incredibly proud of what our teams have delivered through a year of significant change," said Michael Hill CEO Jonathan Waecker.

Cost of doing business fell 70 basis points to 57.1% of revenue, helping lower group net debt by $36.3 million down to $5.5 million.

The operational turnarounds across regional markets allowed directors to declare a final dividend of 2.0 cents per share.

Following the announcement, the Michael Hill share price was up at $0.39.

The company stated that Canada was its best-performing geographic market, posting same-store sales growth of 7.0% over the full year.

Operations in Australia and New Zealand also expanded over the period, delivering same-store sales increases of 4.8% and 3.6%, respectively.