Kathmandu, the outdoor equipment retail chain, boosted first-half profit by as much as 75 per cent on the strength of sales across the Tasman.
The shares climbed to a 13-month high.
Net profit was between $9.5 million and $10.5 million in the six months ended January 27, compared to $6
million a year earlier, the retailer said in a statement. That came from a 13 per cent increase in sales to $165.8 million, and was in line with management's expectations, it said.
"Our sales in Australia have continued to grow at a faster rate than New Zealand, which reflects the continuing strengthening of the Kathmandu brand and market penetration in Australia," chief executive Peter Halkett said.
The shares rose 4.1 per cent to $2.30, leading gainers on the top 50 index. The stock is rated an average 'outperform' based on 10 analyst recommendations compiled by Reuters, with a median target price of $1.855.
