Kathmandu profit surged 64.2% in FY16

Company News

by David Chau

Kathmandu Holdings Ltd (ASX:KMD) has announced its full-year results for FY16 and, according to the company, it exceeded expectations.

The following figures are all in New Zealand Dollars: the company's EBIT increased by 53.3% to $50.9 million and NPAT increased by 64.2% to $33.5 million.

Kathmandu declared a final dividend of 8 cents per share, bringing its full year payout to 11 cents per share, fully franked.

The company says its results were driven by sales growth, with much of it from Australian stores. Kathmandu opened 4 new stores in Australia, and 1 new store in NZ.  However, UK sales declined with the closure of 3 stores.

The company's FY17 outlook is positive and it is exploring opportunities to further expand in international markets.

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