Australia's Michael Hill hits six-week high on strong results, buyback

Michael Hill International

29/08/2022 02:44

** Shares of Michael Hill International  MHJ.AX  rise as
much as 9.3% to A$1.12, hit their highest level since July 18 
    ** The jewelery retailer declares a final dividend of 4 Au
cents each share  urn:newsml:reuters.com:*:nASXMSJgH
    ** Announces launch of an on-market share buyback of up to
5% of co's issued capital
    ** Adds that first eight weeks on FY23 saw group's all-store
sales rise 13.4% year-on-year 
    ** Co posts full-year profit after tax attributable of
A$46.7 mln ($32.06 mln), up 13.9%  
    ** More than 116,000 shares change hands, compared with the
30-day average volume of about 55,000 shares
    ** Stock down 25.7% this year, as of last close
 

    ($1 = 1.4565 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))