KMD
01/08/2014 10:13
FORECAST
REL: 1013 HRS Kathmandu Holdings Limited
FORECAST: KMD: KMD Trading Update 1 August 2014
KATHMANDU HOLDINGS LIMITED
ASX/NZX/MEDIA ANNOUNCEMENT
01 AUGUST 2014
TRADING UPDATE FOR YEAR ENDED 31 JULY 2014
As previewed in the previous trading update released in June, Kathmandu
Holdings Ltd (ASX/NZX code: KMD) today reports an update on its sales
performance and forecast earnings for the year ended 31 July 2014 (FY14). (1)
- Total sales $392.9m up $8.9m (2.3%) on the previous year;
- Same store sales (for the 52 weeks ended 27 July 2014) up 4.2% at constant
exchange rates;
- EBIT expected to be in the range of $62.5m to $65.5m, compared to $63.4m
for the previous year;
- NPAT expected to be in the range of $39.5m to $42.5m, compared to $44.2m
for the previous year. (2)
On 24 June Kathmandu advised that in the absence of a more normal winter
pattern through July, earnings for the year would likely be between 10 and
15% down on the result in FY13. During July, temperatures have been generally
colder in comparison to June across most of Australia and New Zealand,
particularly in the second half of the month. During the period since 24 June
Kathmandu has recovered a significant portion of the shortfall in sales
revenue it experienced in the early part of winter.
Kathmandu's CEO Peter Halkett commented that "It is pleasing to have
delivered a better full year result for FY14 than we were anticipating a few
weeks ago when warm winter weather had significantly reduced customer demand.
The improvement in sales and earnings in July once colder winter weather
became established has resulted in a satisfactory outcome from our key winter
sale event."
Kathmandu's full year result for FY14 will be released on Tuesday 23
September.
For queries contact Mark Todd +64212711328
Mark Todd
CFO
1. All sales and earnings results are subject to final internal review and
external audit verification.
2. The expected NPAT result for FY14 is impacted by year on year increased
foreign currency exchange losses and tax expense relating to the Australian
intercompany loan revaluation at balance date.
End CA:00253388 For:KMD Type:FORECAST Time:2014-08-01 10:13:43
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