Mothercare which is mid-way into its turn-around strategy has significantly increased its underlying profits – up by 51 per cent to £19.6 million on overall sales of £682.3 million. The business reduced its UK market losses by 64 per cent for the year ended March 26th 2016 and had improved some 40 per cent of its stores during the period along with a stronger focus on the quality of its product range. It fared less well in international markets, blaming currency fluctuations but assured the city that plans were in place to improve overseas sales and profitability. However online sales in the UK rose by 15 per cent to £159.4 million with 80 per cent of online sales placed via smartphones and tablets.
Share