Kathmandu Holdings Ltd
(ASX:KMD) has turned in an huge surge in first half profit.
The travel and adventure retailer has beaten market expectations, by reporting a 72.7 per cent surge in net profit $A8.2 million.
The New Zealand based company attributed the strong result to an 13 per cent sales increase, and 9 new store openings.
Online sales leapt 50 per cent over the period.
Chief executive Peter Halkett noted retail trading conditions remain volatile, and he expects Kathmandu’s full year earnings to be underpinned by another strong performance in the Australian market.
No specific guidance was given.
Kathmandu
(ASX:KMD) will pay a fully-franked interim dividend of three NZ cents.
