Pumpkin Patch

[winner69]

EBITDA around $2m means a loss for H1 ......before the flagged extra write downs

Bank will see progress as debt down from more than $50 to $39m but heck that's still a lot

Bank manager probably still thinking 'its rooted'

[King1212]

At least good old Mary will be happy to see the company progress.

FORECAST: PPL: Pumpkin Patch Limited - Market update

Pumpkin Patch confirms that it will be releasing its half-year result on

Monday, 21st March 2016.

As previously signalled, financial results for 2016 will be significantly

below the previous year. There are a number of contributing factors to the

decline, the most significant being the negative impact on margin of adverse

currency movements and a further decline in the international wholesale

business; the same factors that affected the Company's second half trading in

2015.

Normalised EBITDA for the half-year is expected to be in the range of $1.5 -

$2 million (HY15: $9.2 million). Full-year guidance will be provided as part

of the half-year release.

The Company notes that facilities are in place with the ANZ Bank which

provide for the Company's working capital requirements through to December

2017. Net debt at 31 January 2016 was $39.6 million compared to $52.7 million

at 31 January 2015.

Solid progress has been made on executing the strategic initiatives outlined

at the Company's Annual Meeting, including addressing the issues impacting

the Company's international business. Further information on that progress

will be provided as part of the half-year release. This will include an

assessment of any additional provisioning required in relation to the planned

closure of loss making stores.

ENDS

[King1212]

http://www.nzherald.co.nz/business/n...ectid=11598216

The banks will be sweating on this one "Pumpkin Patch is blaming adverse currency movements and further declines in its international wholesale business as it warns profit for the first half of the year will be just a fifth of what it achieved a year earlier".

No hope.

It it is too early to say no hope. Anything can happen. Remember AIR in 2001? I don't hold PPL but would be nice to see NZ company recover. PPL sells good quality children cloths. Honestly, my wife bought mix of my children clothes and I could compare the quality of PPL clothing with warehouse or farmers.

Note. Don't have any more money to buy the shares.

[okay]

Sheesh you know things are getting desperate at the Patch when the staff gymnasium is going up for sale!

http://www.nzherald.co.nz/property/n...ectid=11607973

From the article "Pumpkin Patch building under the hammer":

...The mezzanine office area, currently used as a staff gymnasium, is open plan with access via stairs from the northeastern corner of the building.

[winner69]

Sheesh you know things are getting desperate at the Patch when the staff gymnasium is going up for sale!

http://www.nzherald.co.nz/property/n...ectid=11607973

From the article "Pumpkin Patch building under the hammer":

...The mezzanine office area, currently used as a staff gymnasium, is open plan with access via stairs from the northeastern corner of the building.

...and all that surplus stock

[winner69]

STUNNING RESULT

https://www.nzx.com/files/attachments/232300.pdf

Positive EBITDA before all the bad stuff

Debt. / stock down

Restructuring going to plan

Only negatives are currency headwinds, extremely competitive markets and signalling more writedowns.

[BlackPeter]

STUNNING RESULT

https://www.nzx.com/files/attachments/232300.pdf

Positive EBITDA before all the bad stuff

Debt. / stock down

Restructuring going to plan

Only negatives are currency headwinds, extremely competitive markets and signalling more writedowns.

Not nice to make fun of them ... think about the poor remaining share holders! PPL (all phases) is certainly an outstanding educational example for investors as well as traders!

Amazing - sounds like they have still supply chain issues. Wasn't that the key to starting their problems some years ago ... how hard can it be?

Share holders equity cut in half over the last 12 months ... If they continue on this path, than the company is worthless next year (some might argue, it is already now ...)

Sad.

[King1212]

Sinking ship alright...sad!

[Beagle]

$50m of stock at cost against a company selling approx. $100m retail for the half suggests they still face major issues with inadequate stock turn. Good retailers like HLG will turn most of their stock every different season.
At 8.8 cps market cap is circa $14m against official shareholders funds before any further potential provisioning of just under $20m suggests the market thinks further write-downs are more than likely.

The bank will be pleased with seeing their debt coming down.

Sales declining through online channels due to insufficient stock given their massive stock level is really very sad for shareholders as is the massive decline nearly 73% WOW !! in wholesale sales. They claim they previously appraised the market of that but I'll bet very few people would have thought wholesale sales would fall off the face of a cliff like that !!

Plenty of work for directors and management to do..hope they're sleeping okay at night as it must be incredibly stressful for all of them. Good luck to them.

Bank will hang in there for as long as they keep hitting their targets and that debt keeps steadily tracking down. Whether there's a viable business left after the bank have been satisfied regarding debt reduction is another matter.

[winner69]

Not nice to make fun of them ... think about the poor remaining share holders! PPL (all phases) is certainly an outstanding educational example for investors as well as traders!

Amazing - sounds like they have still supply chain issues. Wasn't that the key to starting their problems some years ago ... how hard can it be?

Share holders equity cut in half over the last 12 months ... If they continue on this path, than the company is worthless next year (some might argue, it is already now ...)

Sad.

Market thinks it was a (stunning) annoucement