Kathmandu Holdings, the second-best performer on New Zealand's benchmark index the past year, boosted full-year profit 27 per cent to a record on increased sales in its main markets of New Zealand and Australia.
Net profit rose to $44.2 million in the 12 months ended July 31, from $34.9 million the year earlier, the Christchurch-based company said in a statement. Sales increased 11 per cent to $384 million, outpacing a 9.8 per cent rise in operating expenses to $168 million.
Kathmandu, which sells outdoor clothing and equipment, plans to open 15 new stores in 2014, adding to its 136 stores in New Zealand, Australia and the UK. The company plans to expand to 170 stores in its main markets of Australia and New Zealand, from 131 currently.
"Providing there is no deterioration in economic conditions, Kathmandu expects another solid performance in FY2014," chief executive Peter Halkett said in the statement.
Shares in Kathmandu were unchanged at $2.85. The stock has gained 74 per cent the past year, making it the second-best performer on the NZX 50 Index behind cloud-based accounting company Xero.