Kathmandu Holdings Limited
(ASX:KMD) has more than halved its net profit for the full year to 31 July 2015.
Net profit came in at NZ$20.4 million, a near 52 per cent decrease on last year’s figure of NZ$42.2 million.
The outdoor clothing retailer says it is disappointed with the results and has acknowledged it has been a challenging year for the company.
It says the key contributing factors were excess inventory, operating cost increases and pricing and promotional activity which caused customer confusion.
A final dividend of 5 cents per share fully franked will be paid to Australian and New Zealand shareholders.
