Michael Hill (ASX:MHJ) has announced a record result for FY23H1 with Group comparable EBIT of between $52m to $55m and Group sales up 11.7% on the prior year and 14.5% on FY21.
The Company maintained strong margins despite higher input costs and a more promotional retail environment.
Digital sales were down 9% on LY, but up 30% on FY21H1.
The Company opened three new stores and closed one in Australia, ending the half with a network total of 282 stores.
The new Global HQ and distribution centre was opened, with the record half sales of $363m representing a $30m increase on the previous record in FY20.
Following the announcement, shares of Michael Hill (ASX:MHJ) were unchanged at $1.16.