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KMD Brands 1H FY24 Preliminary Results

KMD Brands provided the following preliminary update for the half year ended 31 January 2024. Group sales are expected to be approximately $469 million, 14.5% below last year reflecting ongoing weakness in consumer sentiment. Within this total Rip Curl was down 9.2 %, Kathmandu down 21.5% and Oboz down 20%. The Groups gross margin remains resilient at 58.8% despite the realised US dollar hedged rate in 1H being down approximately 7% from the prior comparative period. Operating costs are $16…