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Kathmandu catches Rip Curl wave out of covid funk

Paul McBeth
Tue, 21 Sep 2021

Rip Curl outperformed Kathmandu's expectations. (Image: supplied by Rip Curl)
Paul McBeth
Tue, 21 Sep 2021
Kathmandu profit soared as the outdoor equipment retailer bounced back from last year’s covid-induced funk, with a full contribution from its Rip Curl acquisition.Net profit jumped to $63.4 million in the 12 months ended July 31 from $8.9m a year earlier, when it booked about $16.9m of transaction costs from its $368m acquisition of the surfing retailer and wholesaler.Stripping out the one-off costs and accounting changes to leases, underlying earnings before interest, tax, depreciation and amortisation climbed 35.9% to $113.3m on a 15.1%...

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