NEW ZEALAND: Pumpkin Patch sees boost to annual earnings
Children's fashion retailer Pumpkin Patch has forecast earnings for the full year to be in the range of $58.0m to $62.0m, versus $55.4m last year, in a trading update.
The company expects net profit after tax for the year to be between $26.5m and $28.5m.
The company's board told the New Zealand Stock Exchange that its forecast result highlights the strength of its brand in its home markets and said it continues to develop confidence in its entry strategy into the US.
However, Pumpkin Patch said that near term earnings would continue to be impacted by a combination of factors, including, a high New Zealand Dollar, high official cash rate, and quota regimes in the US and UK.
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Children's clothing retailer Pumpkin Patch has reported a 3.2% drop in full-year profit to NZD$27.6m (US$19.6m)....
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