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NZ's Pumpkin Patch H1 profit down 7 percent

Mon Feb 23, 2009 3:48pm EST

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WELLINGTON, Feb 24 (Reuters) - New Zealand children's clothing retailer Pumpkin Patch Ltd (PPL.NZ) on Tuesday reported a 7 percent fall in first-half net profit due to tough retail environments in its major markets.

Pumpkin Patch made a net profit of NZ$9.5 million ($4.8 million) in the six months to Jan. 31, down from NZ$10.2 million a year ago.

Shares in Pumpkin Patch closed on Monday at NZ$0.83. The stock has fallen 13.5 percent so far this year, compared to a 5.7 percent drop in the benchmark top 50 index .NZ50.

Pumpkin Patch declared a dividend of 3 cents per share, compared with 4 cents per share last year.

The Auckland-based company, the largest specialty children's clothing retailer in New Zealand and Australia, has expanded into the United States, Britain and Asia. ($1=NZ$1.96)



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