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Wednesday 5th May 2010 |
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Kathmandu Holdings, the outdoor equipment retailer that dual-floated on the New Zealand and Australian sharemarkets last year, reaffirmed its $30.9 million profit forecast for the year. The shares fell 3.5% to $2.21 on the NZX today, extending this week’s decline.
Managing director Peter Halkett told a conference in Sydney that the company was on track to meet its prospectus forecast, though he said “much uncertainty exists in the short term,” citing rising interest rates, higher costs, a volatile economic environment and the weather, in presentation slides released to the NZX. The company expects to post earnings before interest and taxation of $50.9 million for the 2010 year.
Kathmandu announced first half EBITDA of $18.1 million in March, beating its forecast of $15.1 million, though the company said it will have to “deliver a successful second half” to meet its full-year guidance, in its interim report.
Halkett said the company aims to reduce its cost of doing business by 1% by 2013 by upgrading its internal systems and processes, inventory management, and working more closely with other members of its supply chain.
The company has identified 150 potential stores across Australasia, and it plans to roll-out between 15 to 20 new stores per year.
Businesswire.co.nz
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