Michael Hill International is considering listing on the ASX, further strengthening the ties the listed jeweller already has with Australia.
MHI already reports its earnings in Australian dollar amounts, despite operating in New Zealand, Canada and the United States.
The company yesterday reported its Australian operations achieved 2.6% growth for the six months ended December.
Chief executive Mike Parsell said MHI traded solidly in Australia through the crucial month of December.
The New Zealand business continued strongly throughout the second quarter and reported same store sales growth of 6.1% in local currency for the six months.
Canada also continued to show good growth, finishing the half up 5.2% on last year for same stores and 18.4% for all stores.
The United States finished 1% up on last year for same stores and 25.1% for all stores.
In Australian dollars, the Michael Hill brand reported same store sales growth of 4.5% for the six months, a pleasing result after a difficult second half trade in 2014-15, he said.
The gross margin held steady for the six months compared with the previous corresponding period, despite the strengthening of the US dollar against other currencies.
The group opened six new Michael Hill stores, giving a total of 293 stores trading at the end of December.
Addressing the prospect of an ASX listing, Mr Parsell said over the past decade MHI had migrated the majority of its key functions to Australia, including the global support centre, the wholesale and manufacturing divisions and the executive team.
The intellectual property in the retail systems was transferred to Australia in 2008 and in the 2014 financial year the group moved to report in Australian currency as required by international financial reporting standards.
MHI chairwoman Emma Hill said the Michael Hill brand was well recognised and supported in the Australian market. An ASX listing could build on an already strong presence.
The 166 Michael Hill and 10 Emma & Roe stores in Australia represented about 60% of the group's stores internationally.
"We expect the dominance of Australia in our operations to continue for the foreseeable future. Around 64% of the group's earnings before interest and tax were generated by these stores in the 2015 financial year and this is likely to climb as we build the Emma & Roe brand.''
The board considered an ASX listing might be a logical strategic move for the company as it built on that base, Ms Hill said.
The trading update showed Emma & Roe same-store sales growth of 49.1% on the pcp was in line with company targets for the new business.
There were eight Emma & Roe stores trading at the start of the year and three new stores opened during the half year.
Mr Parsell said while the group still considered the Emma & Roe brand to be in a trial phase, there were plans to open a further five stores before the end of the financial year.
