First underlying profit in six year as online sales help like-for-like sales climb
Mothercare has returned to underlying profit for the first time in six years.
The nursery retailer posted its full year financials yesterday, revealing underlying profit before tax of £19.7m.
Like for like sales were up 1.1 per cent for the 52 week period ending 25 March 2017.
Online sales grew 7.8 per cent to account for 41 per cent of the company’s UK retail sales. Internationally the company also went live with 10 new websites to now serve 21 countries online.
Mark Newton-Jones, Chief Executive of mothercare plc, said: "We are now in the third year of our turnaround and I am pleased to report that we have achieved much of what we set out to do from our six pillar strategy introduced in 2014. Whilst we are proud of what we've achieved to date, we believe we are only half way through the transformation of the Mothercare brand."
"Following a difficult start to the year, the UK recovered in the second half, returning to underlying profit for the first time in six years.
"Our vision remains clear: to be the leading global retailer for parents and young children."