Kathmandu Holdings, the outdoor clothing retailer, quadrupled annual profit as sales shot up through the year and it faced none of the previous year's cost of floating on the stock exchange.
Net profit was $39.1 million, or 19.2 cents per share, in the 12 months ended June 30, up from $9.4 million, or 0.3 cents per share, a year earlier, the Christchurch-based company said in a statement.
The retailer boosted sales 25 per cent to $306.1 million, and didn't have to deal with the charge of its initial public offering on the New Zealand and Australian stock exchanges, which shaved $16.8 million from last year's bottom line.
Earnings before interest and tax rose 32 per cent to $64 million, as expected.
"We have achieved double digit same store sales growth in both Australia and New Zealand and improved margins despite the well-publicised difficult economic environment," chief executive Peter Halkett said in a statement. "Our key growth strategies are working and delivered solid sales and profit growth this year despite a tough environment, so FY12 is really about more of the same."
