annual report - Pumpkin Patch investor relations

PUMPKIN PATCH LIMITED & SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS 31 JULY 2010
PUMPKIN PATCH LIMITED & SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS 31 JULY 2010
4 NON-RECURRING EXPENSES continued
(C) SUMMARY OF DISCONTINUED ACTIVITIES
Consolidated - Year ended Parent - Year ended
31 July 2010 31 July 2009 31 July 2010 31 July 2009
$Õ000 $Õ000 $Õ000 $Õ000
Revenue - US discontinued stores - 16,261 - -
Operating Expenses - US discontinued stores - (21,751) - -
(Loss) from US discontinued operating activities - (5,490) - -
Impairment of assets of discontinued stores - (12,098) - -
Inventory write down - (15,019) - -
Other expenses - (2,546) - -
Income tax credit - 6,652 - -
(Loss) from discontinued operations - (28,501) - -
Loss before income tax includes the following
specific expenses:
Rental and operating lease expenses - (4,119) - -
Salaries and wages - (4,087) - -
Impairment of store assets - (12,098) - -
Depreciation - Computer and point of sale
equipment - (50) - -
Depreciation - Shop fitouts - (1,395) - -
Depreciation - Office equipment and furniture
& fittings - (337) - -
Cash flow from discontinued activities:
Cash flow from operating activities - (4,202) - -
Net increase/(decrease) in cash generated
by discontinued activities - (4,202) - -
5 SEGMENT INFORMATION
Management has determined the operating segments based on the reports reviewed by the
Board of Directors that are used to make strategic decisions.
The Board considers the business from both a geographic and distribution perspective.
Geographically, the Board considers the performance of retail operations in New Zealand,
Australia, the UK and the US, while the performance of the Wholesale and Direct business
is assessed as a whole.
The following is an analysis of the GroupÕs revenue and results by operating segment.
Revenue reported below represents revenue generated from external customers. There were
no inter-segment sales in the year (2009:nil).
The accounting policies of the reportable segments are the same as the GroupÕs accounting
policies described in note 2.
Segment profit represents the profit earned by each segment without allocation of central
administration costs, finance costs and income tax expense.
(D) SUMMARY OF NON-RECURRING EXPENSES
Impairment of continuing stores - United States - (10,247) - -
Impairment of continuing stores - United Kingdom - (6,377) - -
Impairment of continuing stores - Urban Angel - (163) - -
Impairment of investment in subsidiary - - - (20,307)
Total Impairment - (16,787) - (20,307)
20
years
young
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