KMD Brands’ (NZX:KMD) shares are in green today, here’s why

September 19, 2022 11:46 PM EDT | By Jasmine Anand
 KMD Brands’ (NZX:KMD) shares are in green today, here’s why
Image source: © Igorbukhlin | Megapixl.com

Highlights:

  • KMD Brands released its FY22 results today (20 September).
  • The company has witnessed growth in its Group sales.
  • It will pay a final dividend in November.

KMD Brands Limited (NZX:KMD), which specialises in quality apparel, and travel and adventure equipment, today (20 September) published its FY22 results.

Source: © Kbuntu | Megapixl.com

Group sales

For the year ended 31 July 2022, the Group sales grew to 6.2% to NZ$979.8 million, driven by continued growth in Rip Curl sales and strong demand for Oboz products, among others. Its statutory NPAT clocked NZ$36.8 million.

The company's Group CEO and Managing Director, Michael Daly, said that despite COVID-19-related challenges, KMD delivered a strong performance, making significant progress in building a global brand, elevating its digital presence as well as leveraging its operational excellence.

Navigated through supply constraints

The results revealed that like most other global brands, KMD too experienced high international freight costs as well as raw material cost pressures. However, owing to sales growth in the Kathmandu and Rip Curl brands, the Company was able to maintain a gross margin of 58.9%.


Winter season

As per the results, winter season was another driver for Kathmandu’s latest performance, with Q4 sales being above the FY19 level. 


Dividend declaration

The company said that it had declared 3.0 cps as a final dividend to its shareholders, payable on 25 November, with 10 November being the record date. It will take the total FY22 dividend to 6.0 cps.

Focus on ESG

KMD continues to focus on sustainability initiatives and is committed to delivering positive growth for both its people as well as the community, claims its Group CEO and Managing Director.

The Company has bagged several awards for environmental and product innovation, such as the Deloitte New Zealand Top 200 Sustainable Business Leadership award, among others.

 

Bottom Line

With the reopening of the country's borders and resumption of international travel, KMD expects to improve on results in the future.

On 20 September, at the time of writing, KMD Brands was up 2.00% to NZ$1.020.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.


Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.