Kathmandu loses place in ASX top 200

Kathmandu-1Adventure wear retailer Kathmandu’s problems have been highlighted by its demotion from the share market’s list of top 200 companies.

Kathmandu shares have more than halved in value in the past year as lower sales hit margins and contributed to a 53 per cent fall in annual profit.

Of the other six companies dropped in the quarterly update of the S&P/ASX200 index, four are involved in mining or oil and gas production.

Mining services provider Bradken, which ended merger talks with Chile’s Magotteaux Group, is one of them, as its shares have tumbled more than 80 per cent since October 2013.

Senex Energy and Mermaid Marine Australia were also demoted, reflecting low oil prices and oversupply, while engineering firm UGL also drops out of the top 200.

Poker machine supplier Ainsworth Game Technology was the other company to be demoted.

Companies replacing them include ship builder Austal, as its shares have quadrupled in value in less than three years.

It recently received funding to construct two more US Navy ships.

Software companies MYOB and Altium were also promoted, along with Australia’s second largest hotel and resort operator, Mantra Group, Burson Auto Parts and residential property operator Gateway Lifestyle.


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