KMD Brands Swings to Loss in Fiscal 2024; Revenue Drops 11%

MT Newswires Live

Sep 25, 2024

KMD Brands (NZE:KMD, ASX:KMD) reported a loss of NZ$48.3 million in the 12 months ended July 31, compared with a profit of NZ$36.6 million a year ago.

Total revenue was NZ$979.4 million, an over 11% decline from NZ$1.1 billion a year ago.

"We continued to experience the effects of weakness in consumer sentiment. Sales were 11.2% below last year's record result; and decreased for all three of our brands," said group Chief Executive Officer Michael Daly.

The global outdoor, lifestyle, and sports company did not declare a final dividend, citing its fiscal 2024 operating performance and challenging market conditions.

The company's New Zealand shares were down 2% in recent trade.

Price (AUD): $0.49, Change: $-0.010, Percent Change: -2.00%

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