Share of the Week: Grow your own

The June-year result showed the tills were still ringing back home, where sales rose 18% and ebit (earnings before interest and tax) climbed 33%. The 77 Australian stores turned in sales of $A109 million, up 14%, and a 29% higher ebit of $A10.6 million.

The group return on shareholders' funds of 23.9% and a healthy equity ratio of 55% show patient expansion doesn't have to come at a cost.

And as Mr Hill and family still have their feet on a controlling shareholding MHI isn't likely to join the ranks of successful New Zealand companies snapped up by multinationals any time soon.

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