Pumpkin Patch lifts profit forecast

Pumpkin Patch listed on the stock exchange this year. Picture / Martin Sykes

Pumpkin Patch said today it expected to boost its annual net profit after tax (npat) by 48 per cent.

The retailer said in a statement it expected its npat for the year-ending July 2005 to be no less than $23 million, compared to the $15.5 million posted the previous year.

The company said trading conditions in its New Zealand, Australian and Britsh retail stores have been favourable for the four and a half months to mid-December.

Sales to wholesale customers have also grown in all markets, especially the Middle East and Ireland.

Shares in the company jumped 20c, or 8 per cent, to an all time high of $2.70 after the profit forecast was released this morning.

Pumpkin Patch listed on the stock exchange in early June at an issue price of $1.25.

- NZPA