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Mothercare profits rocket
Group profit before tax up 124.6 per cent to £13.7m
Like-for-like sales in the UK were up 0.8% while international sales were up 9% on a like-for-like basis. Profit before tax in the 28 weeks to 11 October ros
The group said it is now debt free and had net cash at the end of the reporting period of £8.4m, up from £2.3m last year.
Ben Gordon, Chief Executive, said: 'We are pleased to announce strong first half results for the Mothercare group. Our International business has delivered its best ever half and, despite a challenging market, we have grown like-for-like sales in the UK, with Direct performing particularly well.
'The Mothercare group has undergone a transformation in recent years and we now have 983 stores operating in 50 countries. Growth will continue to be driven by our successful International business, the synergy benefits from the acquisition of the Early Learning Centre, the reshaping of our UK property portfolio and strong momentum in our Direct operations. With our rapidly growing International platform, a reducing UK cost base and a cash generative and debt free business, we are well placed for what is an uncertain consumer environment in the second half.'
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