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Mothercare reports £12m profit in full year results

The retailer has seen a significant improvement in profitability following its strategic move into a global franchising business.

International retail sales of Mothercare’s franchise partners for the year to 26 March, 2022, amounted to £385.3m, up from £358.6m in the previous year.

Group turnover was £82.5m, and adjusted EBITDA increased to £12m, from £2.2m a year before.

The adjusted operating profit for the period was £11.1m, up from £0.2m in the previous year, while profit after tax was £9m, compared with an £8.6m loss a year previously.

Clive Whiley, chairman of Mothercare, commented: “The year under review was bookended by the Covid 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.

“This represents an inflection point for the business, with the combined benefits of more normalised circumstances and the updated financing arrangements greatly enhancing our financial flexibility.

“Accordingly, whilst mindful of the global inflationary environment and its impact on both consumers and the business we remain positive on the long-term prospects for the Mothercare brand.”

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The retailer has seen a significant improvement in profitability following its strategic move into a global franchising business. International retail sales of Mothercare’s franchise partners for the year to 26 March, 2022, amounted to £385.3m, up from £358.6m in the previous year. Group turnover was £82.5m, and adjusted EBITDA increased to £12m, from £2.2m a year before. The adjusted operating profit for the period was £11.1m, up from £0.2m in the previous year, while profit after tax was £9m, compared with an £8.6m loss a year previously. Clive Whiley, chairman of Mothercare, commented: “The year under review was bookended by the Covid 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. “This represents an inflection point for the business, with the combined benefits of more normalised circumstances and the updated financing arrangements greatly enhancing our financial flexibility. “Accordingly, whilst mindful of the global inflationary environment and its impact on both consumers and the business we remain positive on the long-term prospects for the Mothercare brand.”...
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