WELLINGTON: New Zealand and Australian clothing and outdoor goods retailer Kathmandu Ltd's full-year profit rose 27 percent on a solid lift in sales and lower costs despite a tight retail environment, the company said on Tuesday.
Kathmandu reported a net profit of NZ$44.17 million ($37.1 million) for the year to July 31, compared with NZ$34.8 million a year earlier.
Analysts had expected a profit of about NZ$41.7 million.
Sales rose 10.6 percent, with its gross profit margin fractionally lower at 63 percent. It said it had also lower the cost of sales.
It declared a final dividend of 9 cents a share against last year's 7 cents.
Kathmandu, which listed in New Zealand and Australia in November 2009, said it expects further growth in the current year if the economy holds on.
The company has more than 120 stores in Australia, New Zealand, and Britain selling outdoor equipment such as tents, backpacks and outdoor clothing.
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