Pumpkin Patch profit up 50pc

BY CLAIRE MCENTEE
Last updated 11:03 02/03/2010
PPL 0.060 0.00 5.26%
PPL

Click for a detailed chart

Relevant offers

Industries

Retailers aggrieved over Goverment's delay on GST for small imports Super high-speed Bentley add filmed in Australia falls foul of country's advertising standards InternetNZ encourages broadband shoppers to look under the hood 'Grey' used imports to test Toyota NZ's recall repairs Sky TV customers won't be forced on to Vodafone, companies tell regulator Decision close on Okiwi Bay finfish facility Stuff is turning 16, and so is Ben New era for Lotus in New Zealand and Australia Laura Ashley closes NZ stores, owes creditors $2.3m Bic clicks into its 60th year in New Zealand

Children’s clothing retailer Pumpkin Patch has reported a 50 per cent jump in tax-paid profit to $14.3 million for the half year to January.

This was up from up from $9.5m in the same period last year.

Operating revenue was $193.98m for the period, down from $211.09m in the same period last year.

The company is picking trading conditions will slowly improve throughout the year and fully recover by next year. 

Revenue was hit by a higher exchange rate and the closure of loss-making stores in the United States, said chief executive Maurice Prendergast.

"The 50 per cent increase in earnings reflects the improving trading conditions across our markets and the benefits of the major initiatives we put in place over the last 18 months."

The company will pay an interim dividend of 4.5 cents per share, up from 3c last year.

Shares in Pumpkin Patch were up 5c to $2.05 on the New Zealand stock exchange this morning.

- with NZPA

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content