Retailer Kathmandu Holdings has lifted its full year profit almost 27 per cent thanks to stronger sales and lower costs.
Kathmandu made a net profit of $A39.79 million in the 12 months to the end of June.
The New Zealand and Australian listed retailer increased its number of stores by 16 during the year, which helped boost total sales by 10.6 per cent on last year.
Same store sales growth was up 5.6 per cent at comparable exchange rates.
Meanwhile, the outdoor clothing and equipment retailer’s gross profit margin remained relatively steady at 63.0 per cent.
Kathmandu chief executive Peter Halkett said the company cut its operating expenses 30 basis points as a percentage of sales.
“We were successful in reducing operating costs as a percentage of sales,” he said.
“This continues to be a key priority and we are confident Kathmandu will achieve further efficiency improvements in the future,” he said.
Halkett said the company would continue to expand its network of stores in the 2014 financial year, while also working to lift online sales.
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“We will continue to invest in our store network through opening new stores and relocating or refurbishing existing stores in Australia and New Zealand.
“Kathmandu will continue to invest in systems infrastructure to grow our online sales, given the opportunity presented by this channel.”
The company declared a final dividend of nine NZ cents.
