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Michael Hill International (MHJ) briefings
Read that company's published results in release order, newest first.
NPAT up 32.0% and pre-lease FCF lifts to NZ$86.4m, above historical range
The HY26 result sits well above the recent baseline, but FY25's loss-making second half makes H2 durability the central open question.
Published 22 April 2026
Read briefingPBT collapsed 90.8% as H2 NPAT loss erased H1 profit
Implied H2 NPAT loss of $14.8m wiped out the H1 result and net debt swung from a $2.3m surplus to $41.9m.
Published 22 April 2026
Read briefingNPAT up 9.7% but interim dividend skipped as margins sit at range lows
Reported NZ$16.9m profit landed on a -0.7% revenue print and a 6.6% PBT margin, with the board declining the interim dividend that paid 1.75c last
Published 22 April 2026
Read briefingRevenue up 2.4% but PBT collapsed 101% as H2 swung to a NZD 15.9m loss
Operating cash halved and the group flipped from net cash to NZD 38.7m net debt, with no final dividend declared for FY24.
Published 22 April 2026
Read briefingMHJ HY24: PBT fell 59.7% on a flat revenue line with dividend suspended
Margin compression and an inventory build above the historical range left pre-lease FCF at NZ$9.1m, well below the NZ$57.3m baseline.
Published 22 April 2026
Read briefingFY23 free cash flow at 152.4% of NPAT on NZD80.1m operating cash
Cash conversion stayed strong but management commentary points to a marked H2 trading slowdown from +6.0% to -0.8%.
Published 22 April 2026
Read briefingOperating cash fell 33% on inventory build despite 11.1% revenue growth
Cash conversion dropped from 86.9% to 54.5% as Australia carried group earnings while Canada and New Zealand segment results fell.
Published 22 April 2026
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