Children's clothing company Pumpkin Patch is back in profit but says sales have been hit by the late delivery of summer stock.
The firm made a profit of $4.7 million in the six months to January, compared with a loss of $29.8 million for the same period a year ago.
Stripping out one-off costs, earnings fell 9% to $6.5 million and revenue fell 5% to $153 million.
Chief executive Neil Cowie said the company lost up to $3 million in sales due to the late delivery of summer inventory, but the problem has been fixed.
Mr Cowie says while profit and margins grew, trading conditions remain subdued at its 185 Australasian stores.
Pumpkin Patch will not pay an interim dividend as it focuses on paying down debt.