Listed outdoor equipment retailer Kathmandu still expects to make a profit of nearly $31 million this year.
Kathmandu listed on both the Australian and New Zealand sharemarkets late last year.
Speaking at a presentation to institutional investors in Sydney on Wednesday, chief executive Peter Halkett said the company was on track to meet the forecasts it gave in its prospectus.
However, Mr Halkett warns there is still uncertainty in the market, with rising interest rates, higher costs and a volatile economic environment.
Shares in Kathmandu fell 9 cents to $2.20 on Wednesday.