A jump in sales has jeweller Michael Hill projecting a rise in annual earnings of up to $6 million.
As the company shifted its primary share market listing from New Zealand to Australia on Thursday, it said total store sales rose by nearly nine per cent in the year to June 30, to $545 million, while same store sales increased by over five per cent.
Michael Hill expects its pre-tax 2015/16 earnings to be between $46 million and $48 million, up from the previous year's $42.1 million.
Its New Zealand operations posted the strongest same store sales growth in 2015/16, followed by Canada, Australia and then the US.
Michael Hill's decision to shift to the Australian share market is a logical and natural move forwards, as nearly 60 per cent of its stores are in Australia, chairman Emma Hill said.
"This is a significant milestone for us. It has been quite a journey to get here, so today is really important," Ms Hill said.
Michael Hill shares began trading at $1.15 at 1100 AEST and hit a high of $1.25 before settling back to $1.20 by 1500 AEST.
The company began in New Zealand in 1979, and now has 313 stores in four countries.
