Michael Hill Jewellers is feeling the effects of falling retail spending and rising crime

The Kiwi-founded international chain is reporting a net loss after tax equivalent to 519-thousand dollars, down from a 38-million dollar profit last year.

Global revenue is up 4.2 percent -- with Australian and Canadian sales offsetting rising diamonds and gold prices.

But revenue is down 11.8 percent in New Zealand, where two stores have closed in the past year.

It's spending about five-million more on security measures like smash-proof glass, fog cannons, alarm screamers, and personal staff alarms.