Weather hurts Michael Hill

Michael Hill. Photo / Supplied

Michael Hill International has cut its expected full-year earnings before interest and tax, after extreme weather events in Australia.

Chairman Sir Michael Hill said yesterday that the jewellery company was forecasting a full-year ebit of $45 million.

That compared with $36.2m last year but was lower than the original budget of $49.9m that was included in an independent adviser's report last month.

The flooding in Queensland and Victoria and cyclone in North Queensland were likely to "adversely impact consumer behaviour in the coming months", Sir Michael said.