prospectus for - Pumpkin Patch investor relations

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PROSPECTIVE FINANCIAL INFORMATION (CONTINUED)Principal assumptions underlying the prospective financial informationThe principal assumptions upon which the forecast financial information is based are summarised below andshould be read in conjunction with ‘Risk and special trade factors’ on pages 27 to 31.The prospective financial information for the years ending 31 July 2004 (“FY04”) and 31 July 2005 (“FY05”) onpages 36 to 43 constitutes a forecast as defined by the New Zealand Financial Reporting Standard No. 29,‘Prospective Financial Information’ and has been prepared on the basis of assumptions as to future events thatthe Directors reasonably expect to occur associated with the actions the Directors reasonably expect to takeas at the date the information was prepared. The forecast was prepared as at 8 April 2004 for use in this OfferDocument. Actual audited results for the 6 month period to 31 January 2004 and actual unaudited results forFebruary 2004 and March 2004 have been incorporated into the forecast for the year ending 31 July 2004. Theforecast information has been prepared for the purposes of this prospectus and may not be suitable for anyother purpose. There is no present intention to update this prospective financial information or to publishprospective financial information in the future.In preparing the forecast financial information, the accounting policies set out on pages 49 to 52 as part of theGroup financial information have been applied without change. There is no expectation of any change to theaccounting policies that would require a material change in the reporting of Pumpkin Patch’s activities in thefuture.General assumptions across all countries in which Pumpkin Patch operatesEconomic EnvironmentThere will be no material change in the general economic environmentLegislative and regulatory EnvironmentThere will be no material change to the legislative and regulatory environment in which Pumpkin Patchoperates.Competitive EnvironmentThere will be no material changes to the competitive markets in which Pumpkin Patch operates and no newentrants that will materially change the competitive environment.Industry ConditionsThere will be no material change to the competitive activity, industry structure, unanticipated fashion trends,general industry conditions, third party retailer relationships or the employee environment.Other assumptionsIncome TaxThere will be no change to the tax regime in New Zealand, Australia or the UK, including no change to thecompany tax rate of 33%, 30% and 30% respectively.Management of Pumpkin PatchPumpkin Patch’s senior management and other key people will continue in their current roles.Disruptions to OperationsThere will be no material disruptions to Pumpkin Patch’s operations or brand arising from long term IT or powerfailures, natural disasters, fires and explosions, and major disruptions to freight distribution networks.40
PROSPECTIVE FINANCIAL INFORMATION (CONTINUED)Company Specific AssumptionsForeign ExchangeActual rates to March 2004 have been included in the FY04 forecasts and the following exchange rates havebeen utilised in the prospective financial information:FY04April to July 04FY05AUD 0.8750 0.8750USD 0.6150 0.6150GBP 0.3703 0.3700EUR 0.5000 0.5000The Company’s policy is to take out forward cover for a percentage of future forecast cashflow requirementsdepending on the time till the forecasted cashflow. FY04 is 100% hedged at an average rate of AUD0.8740 andUSD0.6207 and hedging programmes will be in place for FY05. Currently the Company has 20% and 62% ofFY05’s AUD and USD requirements hedged at an average rate of AUD0.8700 and USD0.6280.RevenueFORECAST OPERATING REVENUE CONSISTS OF:Group Group12 Months 12 Months31 July 2004 31 July 2005$000 $000Australia retail 133,911 149,812New Zealand retail 47,390 61,314United Kingdom retail 17,323 17,841Other 14,900 17,807213,524 246,774Other consists of mail order, internet, and wholesale sales.(i)Retail(a) The following new store openings have been forecast for the remainder of FY04 and for FY05, wiithforecast revenues in line with historical averages for new stores:FY04remainderFY05Australia retail - 7New Zealand retail 2 2UK retail - -(b)(c)Forecast sales for those stores that are in existence at 8 April 2004 are expected to be at the sametrading levels for the remainder of FY04 and for FY05.14 stores arising from the HBK acquisition as at 3 May 2004 have been included in the prospectivefinancial information.(ii)WholesaleForecast sales for the remainder of FY04 are based on actual orders received. The sales for the first half ofFY05 are based on actual orders received while the second half FY05 are forecast at similar levels to thatof the first half of FY05.41
Page 1 and 2: Lead ManagerGoldman Sachs JBWere (N
Page 3 and 4: table of contentsInvestment overvie
Page 5 and 6: strong Australasian and growing int
Page 7 and 8: description of the company’s busi
Page 9: Pumpkin Patch... the brandFounded i
Page 12 and 13: sales and marketingPumpkin Patch’
Page 14 and 15: wholesale salesPumpkin Patch has id
Page 16 and 17: the offering14
Page 18 and 19: Shares will be able to be traded fr
Page 20 and 21: Option Offer (Employees Only)Offer
Page 22 and 23: shareholding structure20
Page 24 and 25: directors & senior management22
Page 26 and 27: Senior ManagementMike ArandGeneral
Page 28 and 29: corporate governanceThe Board of Pu
Page 30 and 31: isk and special trade factorsPrinci
Page 32 and 33: Head OfficePumpkin Patch’s head o
Page 35 and 36: 33financial information
Page 37 and 38: Basis of PreparationPro forma histo
Page 39 and 40: prospective financial informationTh
Page 41: PROSPECTIVE FINANCIAL INFORMATION (
Page 45 and 46: PROSPECTIVE FINANCIAL INFORMATION (
Page 47 and 48: group financial statementsPUMPKIN P
Page 49 and 50: PUMPKIN PATCH LIMITED & SUBSIDIARIE
Page 69 and 70: summary historical financial inform
Page 71 and 72: SUMMARY HISTORICAL FINANCIAL INFORM
Page 73 and 74: Basis of opinion on the summary of
Page 75 and 76: statutory and other informationThe
Page 77 and 78: 5A. Restrictions of Directors’ Po
Page 79 and 80: Relevant Interest Holder No of Natu
Page 81 and 82: 11. Acquisition of Business or Subs
Page 83 and 84: 20. Restrictions on the Issuing Gro
Page 85 and 86: Regulation 12The Securities Commiss
Page 87 and 88: DF7 Share SchemeThe Company has est
Page 89 and 90: glossary of certain termsTermDefini
Page 91 and 92: 89application instructions
Page 93 and 94:
9. If your Share Application Form i
Page 95 and 96:
ules relating to the Pumpkin Patch
Page 97 and 98:
part or all of the Options (subject
Page 99 and 100:
arbitrator shall be appointed by th
Page 103 and 104:
directory and advisersDirectorsChri
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prospectus for - Pumpkin Patch investor relations

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