rnt jewellery retailing from the ground up, has worked across the breadth of the business, and across our international marketplace,” Sir Michael said. Hill family associates control some 53 per cent of the company. The retailer, which has expanded from a single store in Whangarei in 1979, to 296 stores across Australia, New Zealand, Canada and the US, increased annual profit 11 per cent to $A27.8 million. Same store sales were flat at 0.7 per cent. In the Australian segment, revenue decreased by 1.4 per cent to $294.4 million and same store sales decreased 2.5 per cent. “The Australian market has continued to be challenging due to lower consumer confidence, especially in regions where the resource sector is prevalent,” the company said. Four new Australian stores were opened and one closed during the period, making a total of 167 Australian stores. The company intends to boost its store numbers in Australia to 175 by the 2018 financial year. In New Zealand revenue increased 3.9 per cent to $NZ114 million and same store sales were up 4.3 per cent. There are 52 stores operating in New Zealand. In Canada, the company opened seven new stores and closed one, taking the total to 60 and it expects to open eight stores this year, and six in each of the following two years, taking the total to 80 stores by the 2018 financial year. Revenue for the Canadian operations increased 14.6 per cent to $CA79.1 million. The company said its Canadian unit had now reached a critical mass allowing increased spending on marketing and brand awareness. Meanwhile, in its fledgling US operation, the company’s loss widened to $US1.9 million from $US1.7 million the year earlier, which it said was in line with expectations. It expects to increase US stores to 19 by the 2018 financial year from nine currently. The retailer said its Emma & Roe brand is still being tested, with seven stores in Australia and one in New Zealand. No financial details were given for the chain. Business Desk