AAP
Outdoor gear retailer Kathmandu Holdings Ltd has reported a net loss of $NZ11.3 million ($A8.68 million) in its inaugural half year, including the cost of its initial public offering, and confirmed guidance for full year earnings.
The net loss for the six months to January 31 widened from the $NZ2.4 million reported a year earlier, Christchurch-based Kathmandu said in a statement on Thursday.
The company reported a net profit excluding IPO costs of $NZ4.4 million, while sales jumped 27.5 per cent to $NZ106.6 million.
Kathmandu said it was confident that it would meet its full year prospectus forecast of profit after tax $NZ30.9 million, after allowing for the full year pro forma forecast adjustments contained in the prospectus.
Kathmandu said it had to deliver a successful second half in order to deliver the full year forecast. This would be influenced by weather conditions and the retail environment.
Kathmandu said it would not pay a first half dividend, as set out in the prospectus. The company plans to pay a full-year dividend of 6.7 NZ cents per share, if it meets profit forecasts.
Shares in Kathmandu listed in New Zealand had gained seven NZ cents, or 3.2 per cent, to $NZ2.26 by 0847 AEDT.
"It is very satisfying to deliver a good first result announcement," Kathmandu chief executive Peter Halkett said in the statement.
The result followed an improved retail environment and a successful store rollout program, Mr Halkett said.
The company's Australian sales, which make up more than half the total, grew 24.7 per cent to $NZ58.7 million. Same store sales growth was 9.9 per cent.
Mr Halkett said the second half, which includes the winter months, made up Kathmandu's larger proportion of sales.
