Michael Hill Posts Record Revenue as Turnaround Gains Momentum

Michael Hill International reported a record revenue of AUD 655.7 million in H2 2026, marking a significant turnaround for the jewelry retailer.

The company's group revenue rose 4.1% in constant currency and 1.9% in Australian dollars, while same-store sales grew 5.2% in constant currency across all markets.

Michael Hill's comparable EBIT increased 57% to AUD 24 million, lifting the margin to 3.7% of revenue, and net debt fell to AUD 5.5 million from AUD 41.9 million a year earlier.