NZ's Kathmandu H1 profit rises, targets higher full year

WELLINGTON, March 24 (Reuters) - New Zealand and Australian clothing and outdoor goods retailer Kathmandu Ltd reported a 10.7 percent rise in first half profit on Monday on higher sales and improved margins, and said it was looking for a higher full year result.

Kathmandu posted a net profit of NZ$11.4 million ($9.74 million) for the six months to Jan. 31, compared with NZ$10.3 million last year.

The company said it was hoping to beat last year's full year profit of NZ$44.2 million on the back of a strongly growing Australian market.

However, it said the strength of the New Zealand dollar against the Aussie had cost it NZ$2.2 million in the first half and would affect the full year result.

It declared an unchanged interim dividend of 3 cents a share.

Founded by mountaineer Jan Cameron in New Zealand in 1987, Kathmandu has 139 stores in Australia, New Zealand, and Britain selling a wide range of outdoor equipment from tents to clothing and backpacks.

($1 = 1.1699 New Zealand dollars)

(Gyles Beckford)

((Gyles.Beckford@thomsonreuters.com)(+64 4 802 7980)(Reuters Messaging: gyles.beckford.reuters.com@reuters.net))

Keywords: KATHMANDU RESULTS/