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RAPAPORT... Retail jeweler Michael Hill International estimated that its global sales rose 9.7 percent year on year to $454 million (AUD 483 million), while same-store revenue rose 5 percent to $408 million (AUD 433.9 million) for the fiscal year that ended on June 30. Sales performance varied widely by region and in local currencies with Canada's sales growth up 30.3 percent to $65 million (CAD 69 million), while U.S. store sales declined 2.8 percent to $10 million. Jewelry store sales in New Zealand fell 1.5 percent to $97 million (NZD 110 million), but in Australia, the company's largest market, revenue increased 4.4 percent to $284 million (AUD 302 million). Michael Hill's professional care plan (PCP) revenue collected during the year jumped 19.6 percent to $30 million (AUD 31.7 million), while PCP revenue brought to income jumped 51.3 percent to $19 million (AUD 20 million).
The company anticipates releasing official fiscal results, including its income statement, on August 15.
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