Retailer of clothing and equipment for travel and adventure, Kathmandu Holdings Ltd
(ASX:KMD) has reported a 37 per cent fall in earnings for the 2010 financial year.
The NZ based company posted profit of NZ$9.39 million for the 12 months to July 31, 2010, the result impacted by costs associated with the company’s IPO and the payback of debt.
Net profit after tax, in Aussie dollars and excluding IPO costs, rose $8.1 million to $20.2 million on the back of a 12% increase in sales revenue to $196.6 million for the year.
CEO Peter Halkett says the company was able to maintain double digit sales growth in all its markets in the second half of the year despite difficult economic conditions in the markets it operates in.
Looking ahead Mr Halkett says Kathmandu is confident that given reasonable economic conditions there will be further improvement in profitability in the 2011 fiscal year.
Kathmandu declared its first ever dividend of 7 cents a share an increase on the 6.7 cents forecast in its prospectus.
For the half year to January 31, 2010 Kathmandu Holdings posted a loss.
