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Mothercare delivers on profits
Archived article dated Wednesday May 20th 2009
Mothercare has seen nearly a tenfold rise in profit before tax, after a year of growing international sales.
Group sales for the 52 weeks to 28 March were up 6.9 per cent to £723.6m, with group profit before tax £42.2m, compared to £4.5m last year. Underlying profit before tax was up 12.4 per cent to £37.1m. The group is debt free.
UK like-for-like sales were increased by 1.4 per cent, with international like-for-likes up 6 per cent. Total international retail sales increased by 40.9 per cent and profits by 47.9 per cent to £13.9m. The brand now has 609 stores in 50 countries."This has been another strong performance for the Mothercare group and as a result we have recommended a 20.8% increase in the total dividend,” says Mothercare chief executive Ben Gordon. “Our International franchise business has enjoyed a record year, with profits up by nearly 50%. We now have 1,014 stores worldwide in 51 countries, with plans to open another 100 stores this year. The integration of the Early Learning Centre is now largely complete and has delivered benefits beyond our expectations.
"Given the uncertain consumer environment, we are planning cautiously for 2009/10, however we are well placed as we enter the new financial year, benefiting from our growing International platform, resilient multi-channel UK business, strong cash flow and debt free balance sheet,” adds Gordon.
Tagged as: Mothercare | profits | Ben Gordon
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