NATIONAL: Kathmandu has announced a plan to become a listed company on the Australian Securities Exchange and New Zealand Stock Exchange.
Today the company lodged a prospectus with the Australian Securities and Investments Commission for an initial public offering of its shares.
Kathmandu Chairman James Strong said the company had taken steps in the past three and a half years to prepare it for listing. It had implemented a roll out of new stores, boosted its in-house product development team, established a new Melbourne distribution centre and implemented a regional management structure. It also established a UK head office and warehouse.
He believed the brand was in a strong position to deliver attractive financial results for shareholders. The brand had enjoyed sales growth from $133 million in the 2007/08 financial year, to $176 million in the 2008/09 financial year. It forecasted sales of $197 million for the 2009/10 financial year.
The outdoor label was established 22 years ago. It creates its own brand products and runs retail stores. It has 85 stores across Australia, New Zealand and the UK, with plans to open nine more this financial year.