Sales at Kathmandu owner KMD Brands slumped by 11 percent, with all three of its brands feeling the effect of weak consumer confidence in its latest financial year.

The company had a statutory net profit after tax decline of $48.3 million for FY24, including a one-off non-cash impairment on the goodwill of its shoe brand Oboz of $40.3 million.

Milford Asset Management's Sam Trethewey says investors didn't have high expectations ahead of this announcement.

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Sales at Kathmandu owner KMD Brands slumped by 11 percent, with all three of its brands feeling the effect of weak consumer confidence in its latest financial year.
The company had a statutory net profit after tax decline of $48.3 million for FY24, including a one-off non-cash impairment on the goodwill of its shoe brand Oboz of $40.3 million.
Milford Asset Management's Sam Trethewey says investors didn't have high expectations ahead of this announcement.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Sam Trethewey: Milford Asset Management Portfolio Manager on KMD Brands posting 11 percent sales drop

Listen to the Heather du Plessis-Allan Drive Full Show Podcast for Friday 27 September.

Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.

Listen to the Heather du Plessis-Allan Drive Full Show Podcast for Friday 27 September. 
Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.

Full Show Podcast: 27 September 2024 

The Dunedin Mayor says he is expecting thousands of people to protest tomorrow over a proposed downgrade for the city's new hospital. 

The Government has asked Health New Zealand to cut costs - after an independent review found it's hurtling toward an overspend. 

Mayor Jules Radich says he is urging the community to march against what amounts to clinical cuts for the critically needed facility. 

He told Heather du Plessis-Allan the Government must re-engage in contract negotiations. 

Radich says he believes the project can be completed if prices are brought back within reason, as the piles and plans are all done. 

LISTEN ABOVE

The Dunedin Mayor says he is expecting thousands of people to protest tomorrow over a proposed downgrade for the city's new hospital.&nbsp;
The Government has asked Health New Zealand to cut costs - after an independent review found it's hurtling toward an overspend.&nbsp;
Mayor Jules Radich says he is urging the community to march against what amounts to clinical cuts for the critically needed facility.&nbsp;
He told Heather du Plessis-Allan the Government must re-engage in contract negotiations.&nbsp;
Radich says he believes the project can be completed if prices are brought back within reason, as the piles and plans are all done.&nbsp;
LISTEN ABOVE

Jules Radich: Dunedin Mayor talks mass protest against proposed cutbacks to new hospital

The Alliance Group says a drop in our livestock numbers is behind a proposal shut a Timaru meatworks. 

It's called an all-staff meeting today to announce a proposal to close its Smithfield freezing works.

It would stop sheep meat, calf, and night shift venison processing after this season, and remaining venison at the end of the year, at the latest.

Group chair Mark Wynne told Heather du Plessis-Allan there's been a change in how farmers are using their land.

He says the fundamental reason is declining livestock and in particular sheep - and the flow on effect that is has on the processing industry. 

LISTEN ABOVE

The Alliance Group says a drop in our livestock numbers is behind a proposal shut a Timaru meatworks.&nbsp;
It's called an all-staff meeting today to announce a proposal to close its Smithfield freezing works.
It would stop sheep meat, calf, and night shift venison processing after this season, and remaining venison at the end of the year, at the latest.
Group chair Mark Wynne told Heather du Plessis-Allan there's been a change in how farmers are using their land.
He says the fundamental reason is declining livestock and in particular sheep - and the flow on effect that is has on the processing industry.&nbsp;
LISTEN ABOVE

Sam Trethewey: Milford Asset Management Portfolio Manager on KMD Brands posting 11 percent sales drop

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