Pumpkin Patch profit dragged down

Net profit fell 7% to $9.5 million for the six months ended December 31. Earnings before interest, tax, depreciation and amortisation fell 6.6% to $26 million. Overall sales increased 3% to $211.2 million. Losses at its US stores widened to $6.2 million, from $2.5 million in the previous year.

"The United States continues to be extremely volatile causing a disappointing drag on earnings," the company said in a statement, and "will continue to be a drag on earnings in the medium term."

The company cut its dividend to 3 cents per share from 4 cents at the same period last year. The company's shares rose 4.8% to 87 cents in early trading on the NZX 50 index.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Pumpkin Patch turned to a profit in 2013; focus on repaying debt amid challenging conditions
Pumpkin Patch's Di Humphries appointed new chief executive
Former Glassons boss Di Humphries seen as strong contender for top Pumpkin Patch job
ACC takes advantage of beat-up Pumpkin Patch shares to lift stake to 9.2 percent
Pumpkin Patch becomes second retailer in month to cite Australian rivalry hurting profit
Pumpkin Patch turns to 1H profit after year-earlier reorganisation costs; sales fall
Pumpkin Patch wary of Christmas trading as retailers keep discounting
Pumpkin Patch FY earnings slide 20 percent, meets guidance
Pumpkin Patch says annual profit to beat estimates; stock jumps 11 percent
Conyngham resigns as design director at Pumpkin Patch