Sharechat Logo

KMD Brands Trading Update

Tuesday 14th February 2023

Text too small?

KMD Brands Limited (ASX/NZX: KMD , “KMD” or the “Company”) is pleased to provide the following trading update for the half year ended 31 January 2023 (“1H FY23”).


• Sales momentum has continued in Q2, resulting in record first half sales

• Group total sales for 1H FY23 (unaudited) are expected to be approximately $546 million, an increase of +34% above 1H FY22, with particularly positive trading in Australia.

o Kathmandu sales recovery continues, with total sales +51% above 1H FY22, reflecting a return of travel and tourist-related spend

o Oboz first half sales have rebounded from COVID-related supply constraints last year, growing +124%

o Rip Curl total sales have grown +18%, with strong growth in direct-to-consumer sales, while maintaining wholesale sales levels following strong growth last year

• Group gross margin remains resilient overall, with improved gross margin for the Kathmandu brand

• Underlying 1H FY23 EBITDA(1) is expected to be approximately $45 million, cycling $10.2 million EBITDA in 1H FY22, which included $5.1 million of one-off COVID assistance


Inventory levels remain elevated, reflecting the decision to temporarily build stock positions to mitigate supply challenges and to support Oboz forward orderbook growth. Pleasingly, Kathmandu inventory is approximately $24 million lower than FY22, and the Group’s inventory balance is expected to normalise during the second half as purchase orders align to improved shipping timeframes.


The Group continues to benefit from a return to travel and international tourism through January, with Kathmandu sales strengthening +52% and Rip Curl continuing its growth trajectory at +19% for the month.


The Company intends to release its results for the 6 months ended 31 January 2023 on Wednesday, 22 March 2023, with a briefing session for investors and analysts to be held at 8:30am AEDT / 10:30am NZDT.


To pre-register for the briefing and avoid a queue when calling, please follow the link below.


If you are unable to pre-register, at the time of the call please dial one of the numbers below and provide the conference ID 445053 to the operator.


Australia Toll Free: 1800 590 693

New Zealand Toll Free: 0800 423 972

United States: 800 289 0459

France: 0805 119 536

United Kingdom: 0200 279 0424


This announcement has been authorised for release to NZX / ASX by the Board of Directors of KMD Brands Limited.


- ENDS -

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

TWR - Tower announces strategic review
PFI - 11 Sheffield Street, Blenheim Divestment
December 4th Morning Report
Me Today - Notice of Annual Shareholder Meeting
FSF - Director Scott St John to retire from Fonterra Board
Greenfern announces change in Chief Financial Officer
AIA Provision of Financial Assistance - Employee Share Plan
CBD - Recording and Presentation of Investor Call
CRP - Korella North Mining Lease Lodgement Approved