Kathmandu Holdings Posts Drop In Full-Year Net Profit

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Kathmandu Holdings reported a 4.5% drop in its net profit in the 12 months to July 31. Kathmandu's net profit for the period slipped to 42.2 million New Zealand dollars (US$34 million) from 44.2 million New Zealand dollars. Its earnings before interest and tax rose 1.4% to NZ$64.3 million in the same period. Earnings per share fell by 5.0% to 21.0 cents per share. Sales gained 2.3% to NZ$392.9 million. Its same store sales rose 4.2%, while online sales climbed by over 35% at comparable exchange rates. Kathmandu Holdings opened 15 new permanent stores. Its operating expenses widened by 70 bps as a percentage of sales, while EBIT margin declined from 16.5% to 16.4% of sales. Kathmandu Holdings also announced its plans to pay a final dividend of 9 New Zealand cents per share. Kathmandu Holdings Limited Chief Operating Officer, Mark Todd (soon to become acting Chief Executive following the recent resignation of long term CEO Peter Halkett) said, “Given the reduced customer demand experienced during our key selling period in June, and the NZ$5.8m adverse impact of exchange rates, a small increase in EBIT was a good performance.”
Posted In: EarningsNewsprofit
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