Kathmandu Holdings (ASX:KMD) reports Rip Curl drives Q1 earnings

Company News

by Rachael Jones

Kathmandu Holdings Limited (ASX:KMD) today report group total sales for the first quarter ending 31 October 2020 were up 72 per cent above last year, benefiting from the transformational acquisition of Rip Curl.

Sales were impacted by Melbourne and Auckland store closures, with low footfall in the CBD and tourist store locations, and lower demand for travel-related purchases.

Group EBITDA for the first quarter was in line with last year, including government subsidies and the realisation of cost synergies.

The Group intends to resume dividend payments subject to market conditions and trading performance following first half results.

Shares in Kathmandu Holdings Limited (ASX:KMD) closed 0.4 per cent lower at $1.32.