Mothercare returns to profit

Mothercare has announced a significant rise in pre-tax profit following a loss of £21.5 million in the last financial year.

Earnings for the year ending March 2022 rose to £12.1 million.

The company said that the group’s franchise partners posted sales of £135 million in the first 13 weeks of the current financial year.

Mothercare reported an adjusted EBITDA of £12 million, compared with £2.2 million in 2021.

Earlier this year Mothercare closed all its stores in Russia, which accounted for around 20 to 25 per cent of all its sales.

The country contributed £5.5 million to the adjusted EBITDA for the year and £88 million of franchisee sales came from Russia.

Commenting on the news Clive Whiley, the Chairman of Mothercare, said: "The year under review was bookended by the Covid-19 pandemic and the Ukraine conflict, however, despite the persistence of these difficult global challenges, we have begun to demonstrate the potential of Mothercare as an asset light global franchising business.”

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