Business
Kathmandu dividend wiped out by COVID-19 – The Australian Financial Review
The retailer cancelled its final dividend after bottom line profits plunged 85 per cent, wiped out by the pandemic and Rip Curl acquisition costs.
Underlying earnings before interest, tax, depreciation and amortisation fell 15.3 per cent to $NZ83.4 million, compared with $NZ98.4 million in 2019, beating Kathmandu’s revised guidance of more than $NZ70 million and consensus forecasts around $NZ73 million.
It has been a transformational year for us with the acquisition of Rip Curl and we are pleased with its integration into the group over the last nine months” said group chief executive Xavier Simonet.
“Unfortunately the group faced signif…
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