Michael Hill International Ltd (ASX:MHJ)
A$ 0.58 -0.005 (-0.85%) Market Cap: 225.08 Mil Enterprise Value: 416.93 Mil PE Ratio: 0 PB Ratio: 1.32 GF Score: 80/100
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Full Year 2024 Michael Hill International Ltd Earnings Call Transcript

Sep 01, 2024 / 11:30PM GMT
Daniel Bracken
Michael Hill International Ltd - Chief Executive Officer, Managing Director, Director

Good morning. Thank you for joining Michael Hill International's FY24 full-year results update. I'm Daniel Bracken, CEO, and I'm here today with Andrew Lowe, our CFO.

Today, we will be taking you through a review of our FY24 results, current trading updates, and providing you with further insights on the group's strategy before ending with a Q&A session. There is no doubt that FY24 was a challenging period for the business as we cycled record performance and tough retail trading conditions continued driven by low consumer confidence and macro-economic pressures.

Notwithstanding the difficult conditions, it is pleasing to see external third-party transactional data, demonstrating that Michael Hill is performing better than the broader jewelry market and taking market share. Clearly, margin was under pressure from both input costs and promotional activity due to the market conditions with inflationary forces driving elevated costs across many aspects of the business, which together

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