Defying a weak retail trend Kathmandu Holdings Limited
(ASX:KMD) has forecast up to a 36 per cent jump in full year earnings.
The outdoor clothing and equipment retailer says favourable weather helped to drive stronger than expected sales result in the twelve months to July 31, with sales up 25 per cent from 2010.
Sales rose 26 per cent in Australia and 18 per cent in New Zealand, but slipped 6.7 per cent in the UK.
Full year earnings before interest and tax are now expected to reach between $50.6 million $52.2 million.
CEO Peter Halkett says Kathmandu has achieved increased sales through store rollouts, upgrading existing stores and ongoing product range growth.
Kathmandu posted a net profit of $8.2 million in the first half of the 2011 financial year.
