By
Reuters
Reuters
Published
Jan 31, 2011
Jan 31, 2011
NZ's Pumpkin Patch expects markedly lower H1 profit
By
Reuters
Reuters
Published
Jan 31, 2011
Jan 31, 2011
Jan 27 - New Zealand children's clothing retailer Pumpkin Patch said on Thursday it expected a sharply reduced first half profit because of lower sales and difficult trading conditions.
Pumpkin Patch |
The company, which operates stores in New Zealand, Australia, Britain and United States, said it now expected a net profit of between NZ$7.5 million and NZ$8.5 million ($5.8 million to $6.5 million).
That compares with a net profit of NZ$14.3 million a year earlier.
It said the trading environment in its core markets was lacklustre and it was cautious about the sector for the coming year.
It forecast a full year net profit of between NZ$16 million to NZ$18 million.
Shares in Pumpkin Patch last traded up one cent or 0.6 percent at NZ$1.58.
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