KMD
01/02/2016 13:01
FORECAST
PRICE SENSITIVE
REL: 1301 HRS Kathmandu Holdings Limited
FORECAST: KMD: KMD: Preliminary Trading Update & 1H Profit Guidance
KATHMANDU HOLDINGS LIMITED
ASX/NZX/MEDIA ANNOUNCEMENT
1 FEBRUARY 2016
PRELIMINARY TRADING UPDATE AND 1H PROFIT GUIDANCE
FOR THE HALF YEAR ENDED 31 JANUARY 2016
Kathmandu Holdings Limited (ASX and NZX code: KMD) today advises total sales
for 1H FY2016 will be approximately $195.7 million, compared to $179.4
million for the prior comparative period, an increase of 9.1%. Same store
sales growth for the 26 weeks ended 31 January 2016 was 3.8% on a constant
currency basis.
Gross margin for the first half were improved on last year by c. 360 bps.
Kathmandu estimates that 1H FY2016 earnings will be in the following range:
o EBITDA $21.0 to $22.0 million (last year $6.8m)
o EBIT $14.5 to $15.5 million (last year $0.6m)
o NPAT $8.5 to $9.5 million (last year a loss of $1.8m)
Kathmandu's Chief Executive Officer Xavier Simonet said that the Company's
trading performance during the key Christmas and January period had been in
line with management expectations. "Top line sales growth was in line with
expectations but crucially it was profitable growth achieved through an
improved gross margin outcome and realising planned cost efficiencies."
Mr Simonet reiterated that Kathmandu's full year profit result remains
dependent on successful second half year trading. "We expect approximately
55% of sales to be made in the second half of the financial year and between
65% - 70% of earnings," said Mr Simonet. "We also reconfirm that we remain on
track to deliver full year net profit after tax of $30.2m."
Kathmandu's full result for the half year will be released on Tuesday 22nd
March 2016.
ENDS
For further information please call:
Reuben Casey, CFO
+64 272727573
End CA:00277070 For:KMD Type:FORECAST Time:2016-02-01 13:01:54
