Pumpkin Patch has maintained its earnings guidance for the year ended July 31, and says it has seen a "pleasing second half performance", though it is still considering further restructuring and is looking for more "flexibility" from its lenders.
Normalised earnings before interest, tax, depreciation and amortisation (ebitda) were between $2.8 million and $3.4m in the year, a range the retailer initially gave with its first-half results announcement in May and affirmed in June.
Pumpkin Patch reported normalised ebitda of $11.7m in the 2015 financial year and $17m in 2014.
"Consistent with the company's strategic plan, the company is continuing to assess whether further restructuring provisions are required in respect of any underperforming assets," Pumpkin Patch said. "As part of the annual review of its banking facilities, the company is in ongoing discussions with its bank on the suitability of the facilities' terms and conditions.
"Those discussions will occur in the context of the current operating environment and capital expenditure requirements associated with the company's strategic plan. Some additional flexibility is being sought. The review is anticipated to be completed in mid-September."
