Michael Hill International anticipates a first-half profit for FY24 between $30 million and $33 million, citing lower margins influenced by challenging conditions.

CEO Daniel Bracken noted margin pressure from input costs and promotional activities, leading to cost elevation across various business aspects.

Margins are expected to be in the range of 61% to 62%, reflecting pressure from higher input costs and challenging retail conditions.

Digital sales grew and constituted 8% of total Group sales. Inventory levels are well-managed, and the store portfolio saw openings and closures, resulting in a total of 302 stores across all markets.