Adventure clothing retailer Kathmandu has had a better run in the Australian market than on home soil.
Kathmandu posted a net profit of $NZ42.15 million ($AU39.24 million) for the year to July 31.
This was down 4.6 per cent from $NZ44.17 million ($AU41.12 million) last year.
Total sales from the company’s Australian stores were up 14.8 per cent, with same store sales up 6.9 per cent.
Meanwhile, total New Zealand sales were up just 2.9 per cent and down 0.1 per cent on a same store basis.
While sales growth was promising, it was offset by a weaker Australian dollar which slashed $NZ5.8 million (AU$5.3 million) from earnings.
Kathmandu chairman David Kirk said the retailer is focussed on international growth.
This includes expanding its fledging UK business and targeting customers in Europe.
“Given this strong position and the scale of our business, now is the right time to begin taking Kathmandu to the world.
“We are excited to be beginning a new stage in Kathmandu’s development,” he said.
The company will spend $NZ5 million ($A4.65 million) on building its brand and growing sales in the UK and Europe during fiscal 2015.