KMD Brands reports record $1.1 billion sales

Kathmandu Holdings' subsidiary, KMD Brands, has reported a record sales figure of $1.1 billion for the fiscal year ending July 2023.

All brands within the group experienced sales growth, with Rip Curl and Oboz achieving record sales.

The company also saw a 20 basis point improvement in gross margin to 59.1%.

Despite softening consumer sentiment in the fourth quarter, underlying EBITDA increased by 15.1% year-on-year to $105.9 million.

Statutory NPAT was $36.6 million, while underlying NPAT increased by 8.6% to $43.3 million.

The company's balance sheet remains strong, and a final dividend of 3 cents per share was declared, bringing the total dividend for FY23 to 6 cents per share.