Kathmandu Holdings Limited (NZX:KMD) has provided a market update concerning the Group’s performance for the year ending 31 January 2021.
- Half-year sales improved as the Company’s recent acquisition, Rip Curl, helped increase sales over summer. The acquisition of Rip Curl was a strategic decision by the Company to diversify into brands popular in the latter half of the year. The Company has acknowledged the success of this strategy.
- EBITDA for the six months ending 31 January is estimated at $48 million. Full year EBITDA is expected to be up on FY20 results. The full results will be released 23 March 2021.
- Sales over the Group’s portfolio of brands are up 12%. Rip Curl is responsible for this increase as Kathmandu posted weak sales volume.
On 12 February, at the time of writing, Kathmandu shares were trading at $1.300, down 1.52% since the market opened this Friday morning.