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Jonathan Waecker: Michael Hill International CEO on their 376% increase in annual statutory net profit

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Michael Hill's new strategy appears to be paying off. 

The jewellery chain's reporting a 376% increase in annual statutory net profit from its global business. 

New Zealand retail revenue is up 3.1%, bringing it to $112.4 million. 

Michael Hill International CEO Jonathan Waecker told Mike Hosking that since times are tough, Kiwis are being more considerate with their money. 

He says it's important they buy high-quality things that really bring them joy, and they're picking Michael Hill more than anyone else.  

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