Children's clothing chain beats estimates

Shares in the retailer were up 12c yesterday. Photo / Steven McNicholl

Pumpkin Patch, the children's clothing chain, said full-year profit before one-time items was about $10.1 million, beating estimates as bank debt and inventory levels fell and online sales rose.

Analysts had been forecasting profit before one-time items of $9.2 million for the year ended July 31.

The company attributed the result to "solid trading performances over the last three months".

Bank debt fell to $55 million from $61 million and inventory dropped to about $62 million from $84 million.

Online sales exceeded $30 million and were up 50 per cent on the previous year.

Shares in Pumpkin Patch closed up 12c yesterday at $1.03.

The company plans to release its full results on September 27.