Tourism rebound good news for KMD Brands' earnings

Shares in KMD Brands jumped almost 5% this morning after the retailer revealed in a trading update that its first-half results were benefitting from a return to travel and international tourism.The company told the market this morning that group total sales for the six months ended Jan 31 are expected to come in at a tidy $546 million, up 34% from the company’s first financial half last year.Underlying earnings before interest, tax, depreciation and amortisation (Ebitda) were expected to be approximately $45m.It’s a far cry from the...