NZ's KMD Brands gains most in four months on positive FY23 outlook

KMD Brands

20/09/2022 24:39

** Shares of KMD Brands Ltd  KMD.NZ  rise as much as 4% to
NZ$1.040, their highest intraday pct gain since May 16 
    ** Co says its brands are well-positioned to deliver
continued sales and earnings growth in FY23  urn:newsml:reuters.com:*:nFWN30Q20L
    ** Says an unwind of inventory and continued sales growth in
FY23, with full trade unimpeded by the COVID-19, are expected to
underpin increased cash flow generation in FY23
    ** Posts FY total revenue of NZ$979.8 mln ($583.86 mln), up
6.2%
    ** Co posts FY net profit from continuing operations NZ$36.8
mln, down 40%
    ** Declares a final dividend of 3 NZ cents per share    
    ** Shares touch their highest level since Sept 13
    ** KMD stock down 34.2% this year, as of last close 

    
    ($1 = 1.6781 New Zealand dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))