NZ's KMD Brands tanks as slow start to winter trading offsets strong outlook

KMD Brands

12/07/2023 03:33

** New Zealand's KMD Brands Ltd  KMD.NZ  plunges 8.7% at
NZ$0.95 as at 0206 GMT, lowest level since May 2020
    ** KMD down as much as 11.5% to NZ$0.920, marks its worst
intraday drop since mid-June 2020
    ** Says has so far experienced a slower start to its winter
trading period
    ** Adds that sales and retail footfall have been impacted by
a warmer winter in Australia and a weak overall consumer
sentiment
    ** Expects to log about NZ$1.10 billion ($683.98 million)
sales in FY23, above last year's NZ$979.8 mln
    ** Sees FY23 underlying EBITDA in range of NZ$105 mln and
NZ$110 mln, above last year's NZ$92 mln
    ** More than 5.6 mln shares change hands, vs the 30-day
average of 971,951 shares
    ** KMD top loser in the S&P/NZX 50 index  .NZ50 ; up 1% this
year as of last close


($1 = 1.6082 New Zealand dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))