Kathmandu overcomes strong kiwi dollar to lift Australian earnings; shares surge

Sun, 23 Mar 2014

By Suze Metherell March 24 (BusinessDesk) – Kathmandu Holdings posted an 11 percent increase in first-half profit, even as a strong kiwi dollar crimped earnings in Australia, the outdoor goods and clothing chain’s biggest market. The shares jumped 7.8 percent after the results were released. Net profit was $11.4 million in the six months ended Jan. 31, up from $10.3 million a year earlier, the Christchurch-based company said in a statement. Sales rose 1 percent to $167.6 million. Kathmandu’s Australian unit, which accounts for almost two t...

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