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Entrepreneur sees 5.8% lift in annual profit

August 17, 2012 - 5:55pm

Arrowtown entrepreneur Sir Michael Hill has seen a 5.8% lift in his company's annual profit.

Listed jewellery chain Michael Hill International made the profit as recovering sales in New Zealand, Canada and the US made up for shrinking sales in Australia.

Profit rose to $36.5 million in the year to June the 30th, from $34.5 million a year earlier.

The Brisbane-based company said that compared to analysts' expectations.

Sir Michael said a big focus for the coming year will be to drive sales revenue in Australia.