Kathmandu reports good December, forecasts profit lift
Kathmandu Holdings is forecasting a lift in its performance for the half year to the end of January.
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Kathmandu Holdings is forecasting a lift in its performance for the half year to the end of January.
It made the announcement shortly before the sharemarket opened today, and its shares surged 9c, or 5 percent, to $1.89 in early trading.
The company said group sales would be between $124 million and $126 million, which was between 16.3 percent and 18.2 percent up on the previous comparative period. Same store sales increases would be between 8.9 percent and 10.3 percent.
Earnings before interest and tax would be 20 percent to 26 percent higher, ranging from $18.5 million to $19.5 million.
Kathmandu chief executive Peter Halkett said a strong sales performance in December and so far in January in both Australia and this country, coupled with improved gross margins were the primary reasons for the year-on-year increase.
The overall profit result for the full year would remain dependent on second half year trading, when historically about 60 percent of Kathmandu's full year's sales were made.
NZPA
Wed, 19 Jan 2011
Wed, 19 Jan 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
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Kathmandu reports good December, forecasts profit lift
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