Some good news for Kathmandu, FCO following Mountain Designs out of NZ.
FCO shutting down NZ stores
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Some good news for Kathmandu, FCO following Mountain Designs out of NZ.
FCO shutting down NZ stores
Goldman now at 10.4425%
Maybe they know something we don't?
https://www.nzx.com/companies/KMD/announcements/260945
Perhaps they are taking a punt on the NZD/AUD forex changing? (super cycle for forex says this is the max, but past history is not necessarily an accurate representation of future events)
Australian Super upping their holding...
https://www.nzx.com/companies/KMD/announcements/260952
Australian Super must have changed their minds.... https://www.nzx.com/companies/KMD/announcements/261751
First half results up:
https://www.nzx.com/companies/KMD/announcements/262197
Loss of 1.8m, in line with the trading update of a loss in the range of 1 - 2m.
Bottom end of guidance range. Strange that they would declare a dividend when they're making a loss...trying to keep shareholders on side for a future rights issue ?
The final divvy later in the year is the bigger one so that will probably get a good haircut if sales don't improve very much doubt there will be any rights issue, remember this could all turn around quickly with good winter sales over the upcoming months unfortunately no one except God himself is able to give us an answer on that one. Disc-Holding
You need to keep in mind that over the last four years 58% of Revenue and 77% of EPS have been obtained in H2 of the financial year. The products they sell in the winter season are higher margin and they have less competitors that can provide the quality products KMD makes, it is almost a different market in many ways.
It is not all bad. Operating cash, although negative, is up on last year and they still have pretty good profitability over the last 12 months. Their earnings yield is not as attractive as it once was. But the business still looks pretty good.
They just need to sort out their leadership team and get some stability going forward.