KMD Brands owns Kathmandu. File image. Photo: Supplied
Retailer and manufacturing company KMD Brands says it has seen strong first quarter sales and profit growth across all its brands.
KMD Brands, which owned Kathmandu, Obos and RipTide brands, said first quarter group sales to the end of October were up 62 per cent on the year earlier, given the absence of last year's Australasian lockdowns and a return to more normal trading.
"Pleasingly, gross margin and profitability are holding up well, with group underlying operating profit for the first quarter of FY23 improving by nearly $30 million year-on-year," group chief executive Michael Daly said.
"Looking forward, while current trading for our three brands is strong, we remain cautiously optimistic, with the potential of high inflation and rising interest rates impacting consumer sentiment in our key global markets."
The first half-year results were dependent on the Black Friday sales as well as upcoming Christmas retail trading periods, he said.