KMD Brands (ASX: KMD) Trading update today:
- Record performance in Winter promotional period.
- Total sales range $955-965million PCP $930million.
- EBITDA $88-$94 million PCP $120million.
- Q4 profitability above pre Covid levels.
- Inventory levels forecast to be above last year.
KMD operate in both Australia and NZ with the CEO commenting that NZ trading is much weaker than Australia.- Could be because NZ Central Bank is about 3-6 months ahead in their tightening cycle with the NZ economy heading off a cliff for a hard landing.
Australia still looking in much better shape. Go to your local shopping centre...if you can find a car park they're that full!
Ann: Business Update, page-105
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