Wednesday 1st June 2016 |
Text too small? |
Shares in the struggling childrenswear retailer Pumpkin Patch have dropped by 9 percent in trading, following similar sharp falls last week.
They dropped to as low as 6 cents a share at 2pm, before recovering to 6.1 cents. They've fallen by as much as 27 percent since May 23 when they were valued at 8.3 cents a share.
Pumpkin Patch last updated the market on April 20 when it published its interim report showing a fall in sales. It has a current market value of $10.3 million, but net debt at the end of January was $39.6 million.
In his comments in the interim report, managing director Luke Bunt said the six months to the end of January represented the conclusion of the set-up phase of the company's four-year recovery plan.
Grant Williamson, a director at Hamilton Hindin Greene said the lack of news since then was "not a particularly positive sign. I don't think investors have too much confidence it can turn around its future".
Shares in Pumpkin Patch have fallen 44 percent since the start of the year and are down 82 percent on a year ago.
BusinessDesk.co.nz
No comments yet
PaySauce Quarterly Market Update - September 2024
October 2nd Morning Report
Rua Releases Annual Report for Year Ended 30 June 2024
SCL - Settlement of orchard sales
The Warehouse Group 2024 ASM and Director Nominations
AIR - Update on Chief Operational Integrity and Safety Officer
Comvita Limited - Annual Report 2024
September 27th Morning Report
Spark announces departure of Finance Director
FBU - Retail Entitlement Offer Opens