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Kathmandu profit down 4.6% on weaker Aussie dollar

Kathmandu made a net profit of $NZ42.15 million ($A39.24 million) for the year to July 31, down 4.6 per cent from $NZ44.17 million ($A41.12 million) a year ago.

Total sales from the company’s Australian stores were up 14.8 per cent, while same store sales were up 6.9 per cent.

Meanwhile, total New Zealand sales were up 2.9 per cent, but down 0.1 per cent on a same store basis.

But the sales growth was offset by a weaker Australian dollar, which wiped $NZ5.8 million from earnings.

Kathmandu chairman David Kirk said the company was focused on growing its fledging UK business and also was targeting customers in Europe.

“Given this strong position and the scale of our business, now is the right time to begin taking Kathmandu to the world,” he said in a statement on Tuesday.

“We are excited to be beginning a new stage in Kathmandu’s development,” he said.

The company will spend $NZ5 million ($A4.65 million) on building its brand and growing sales in the UK and Europe during the 2015 financial year.

Kathmandu announced a fully-franked final divided of NZ9.0 cents per share, taking the full year payout to NZ12 cents, unchanged from a year ago.

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