Michael Hill International Ltd’s (ASX:MHJ) profit just plunged 86%

Jewellery household name Michael Hill International Ltd (ASX: MHJ) has reported an 85.9% slump in FY18 profit after a “year of recalibration and repositioning” saw it close US operations and axe most of its Emma & Roe stores.

Statutory NPAT for FY18 came in at $4.6 million – down from $32.6 million in FY17, with the only silver lining an uptick in revenue of 4.4% to $575.5 million.

Michael Hill maintained its 2.5c per share unfranked dividend and has named FY19 a “foundational year” with benefits from investments in brand positioning, customer loyalty and operational excellence to be “progressively realised”.

While Michael Hill has floundered of late, jewellery-focused retailer Lovisa Holdings Ltd (ASX: LOV) has enjoyed 12 months of share price gains, but its FY18 results last week did see its value plummet 8%.

Fashion retailer Noni B Limited (ASX: NBL) has had some success in the space of late after the acquisition of several brands from Speciality Fashion Group Ltd (ASX: SFH).

Japanese Billionaire’s Prediction Will Give You Goosebumps

When a veritable investing and entrepreneurial genius speaks, it pays to listen.

In fact, he's now preparing a $100B "war chest" to invest entirely in this "terrifying" new technology, which could spell huge profits for investors.

Click here to learn about this technology and how you can profit!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!