27 Jan 2011

Fall in half-year profit tipped by Pumpkin Patch

12:06 pm on 27 January 2011

Pumpkin Patch has warned that its half year profit could fall by almost half, because of lacklustre trading conditions and poor weather.

The children'swear retailer expects to make between $7.5 - $8.5 million in the six months January, significantly less than the $14.3 million it made in the same period last year.

It says trading conditions, particularly in the New Zealand and Australian markets, have been challenging. Cooler weather in Australia and snowstorms in Britain have also affected trading.

Pumpkin Patch is now forecasting full year earnings of between $16 - $18 million, less than the $25.5 million it made the previous year.

Shares in the company fell seven cents to $1.50 on Thursday.