Net income attributable to shareholders jumped 122% to NZ$21,962,000 ($14.3 mm) from NZ$9,912,000 as revenues posted 13% growth to NZ$410,713,000 ($266.5 mm) from NZ$363,654,000 for the fiscal first half ended Jan. 31. The bottom line benefitted from other income of NZ$20.9 million, including NZ$20.5 million in government wage grants for Covid-19 relief, and a huge gain on financial income to NZ$453,000 from NZ$29,000. Gross margin contracted 120 b.p. to 59.0%, selling expenses were up 4% to NZ$82,296,000 and administration and general expenses were up 17% to NZ$85,757,000.
Sales at the core Kathmandu brand and retail business dropped 35% to NZ$127.3 million ... Log in to view full article.