In a preliminary announcement, Kathmandu Holdings said that its financial results for the financial year ended on July 31 should show an increase in total sales of 9.6 percent to 545 million New Zealand dollars (€316.4m-$351.2m), boosted by the acquisition of Oboz by the group in April 2018. The American brand of outdoor footwear continued to deliver strong growth in sales and operating income. On a same-store basis and in constant currencies, the group's retail sales went up by 2.7 percent in Australia but declined by 3.9 percent in New Zealand. The bottom line for the year should show a normalized net operating profit (Ebit) of between NZ$82.5 million and NZ$84.0 million (€47.9m-$53.2m - €48.8m-$54.1m), compared with NZ$74.6 million in the previous year. The normalized net income is expected to fall in the range of NZ$55.5 million to NZ57.0 million (€32.2m-$35.8m - €33.1m-$36.7m), compared with NZ50.5 million.
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