Australia  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Kathmandu posts record FY2018 financial result

Proactive Investors Monday, 17 September 2018
Kathmandu Holdings Ltd (ASX:KMD) has today revealed a net profit after tax (NPAT) for FY2018 of NZ$50.5 million, an increase of 32.9% on the prior financial year. The company’s financial year which ends 31 July, was a record year for sales, profit, operating cash flow and full-year dividend payout. Kathmandu operates a 165+ store network selling travel and adventure outdoor apparel and equipment. Kathmandu’s CEO Xavier Simonet said: “We were delighted to achieve record profits this year as we balanced sales growth with gross margin improvement. “Sales growth was supported by the success of our key product groups, improved promotional execution, inspiring digital content, and an enhanced in-store customer experience. “Top line growth combined with a focus on cost control, resulted in excellent profit growth.” Result in-line with recent guidance On 25 June 2018, Kathmandu provided a trading update and guided the market to FY2018 EBIT of between $72 and $77 million and NPAT between $48 and $52 million. As expected when guidance is provided so close to the end of the reporting period, today’s result is in line with this recent guidance. US outdoor footwear acquisition During the year Kathmandu acquired Obōz, a premium US-based outdoor footwear brand. The Obōz acquisition provides the company with an opportunity to accelerate its international growth, and diversify its product mix, geography, and channels to market. Simonet added: “As we grow our Kathmandu wholesale business, we welcome Obōz, an outdoor footwear wholesaler with a customer base primarily in North America. “We are excited by the opportunity to develop complementary international wholesale channels for both the Obōz and Kathmandu brands.” Sales growth in core market remains key focus Simonet added: “It is highly motivating for our team to have achieved three years of strong profit growth in our core Australasian business. “Our customers have reacted positively to innovative products and engaging brand content. “Being an inspiring brand and bringing to market original, sustainable, engineered and adaptive products represent Kathmandu’s company ethos. “Continuing to drive sales growth in our core market remains a key management focus.”
0
shares
ShareTweetSavePostSend
 

Recent related videos from verified sources

Are record US corporate profits sustainable? [Video]Are record US corporate profits sustainable?

► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs Tim Lee of pi Economics explains to John Authers, the FT's senior investment columnist, how leverage - rather than improved..

Credit: Financial Times     Duration: 03:33Published

You Might Like


Tweets about this


Other recent news in Business

Asia shares steady after Fed MINUTESGlencore’s cap on coal a 'modest' win, but more needed to combat CLIMATE change: Experts
LABOR DEMANDS ANSWERS OVER HELLOWORLD SAGAVenezuela's Maduro shuts border with Brazil as Guaido vows to collect aid
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest