NZ's Kathmandu year profit falls as expected, eyes UK, Europe

WELLINGTON, New Zealand - New Zealand and Australian clothing and outdoor goods retailer Kathmandu's full-year profit fell 4.5 percent as sales were hit by fluctuating weather and it was hurt by high exchange rates, the company said on Tuesday.

Kathmandu reported a net profit of NZ$42.2 million ($34.25 million) for the year to July 31, compared with NZ$44.2 million a year earlier. The result was at the top end of guidance given in August.

It declared an unchanged final dividend of 9 cents a share.

It said it expected an improved result in the coming year, and would increase investment to boost British and European sales.

Kathmandu, whose chief executive is leaving in November, has more than 145 stores in Australia, New Zealand, and Britain selling outdoor equipment such as tents, backpacks and outdoor clothing.

1 US dollar = 1.2321 New Zealand dollar