Shares in troubled Pumpkin Patch took a drubbing last week, after the market was reminded to expect results ‘‘significantly below'' a year ago.
The reminder came last Tuesday and its shares had tumbled more than 23% by Friday, trading around 8c.
Having floated in January 2007, its shares initially traded at $4.95 and were at a then record low of 26c last November.
This week is the beginning of the end of the current reporting season, with mainly retailers reporting their half-year results. Briscoes and The Warehouse are expected this week.
Pumpkin Patch, which reports next Monday, reiterated last week its banking facilities with the ANZ provided for its working capital requirements through to December 2017, while net debt last January stood at $39.6million, compared with $52.7million in January 2015.
‘‘As previously signalled, financial results for 2016 will be significantly below the previous year,'' it said last week.
Normalised earnings before interest, tax, depreciation and amortisation for the half-year are expected to be in the range of $1.5 million-$2 million, compared with $9.2 million, a year earlier.
‘‘Full-year guidance will be provided as part of the half-year release''.
Pumpkin Patch has more than 190 outlets employing more than 2000 staff, across New Zealand, Australia and Ireland, and distribution agreements in Asia, the Middle East and Latin America.
The company said several factors contributed to the financial decline, the most significant beingadverse currency movements and a decline in the international wholesale business.
