Kathmandu Holdings pushed up net after-tax profit 13.5 per cent to make $38 million in the July 31, 2017 year, saying new products and cost control helped drive the good result.
The outdoor retailer with a $432m NZX market capitalisation reported sales up 4.6 per cent or $19.7m to $445.3m and earnings before interest and tax up from $50.9 million to
$57.0 million for the same period. A final dividend of 9 cents a share will be paid,
bringing the full year payout to a record 13 cents a share.
Chief executive Xavier Simonet said: "We were pleased to achieve strong same-store sales growth driven by innovative new products and inspiring digital content. In addition to top line growth, continued cost control and working capital efficiency delivered very solid profit growth. Our financial position continued to strengthen during 2017 and we ended the year with lower inventory and record low net debt."
Kathmandu announced 2017 first-half results on March 21, sayings sales were up 0.2 per cent to $196.3m, NPAT up 6.4 per cent to $10.0m and the interim dividend increased from 3 cents a share to 4 cents a share.
The company is listed on the ASX and NZX and Simonet said today the business had enjoyed two successive years of strong profit and growth and four successive quarters of same store sales growth.
"As a product and brand-led business, we are focused on engaging our customers by creating distinctive, sustainable, quality products and by promoting our brand authenticity," he said.
"In the year ahead, we aim to continue to grow in our core markets, with gross margin and operating efficiency a key management focus. I am excited about the wholesale trials we are conducting in Europe and remain committed to developing new international channels for the Kathmandu brand," Simonet said.
Shares in New Zealand are now trading at $2.14.