Nursery specialist Mothercare has hailed the first year of
its turnaround plan a success after posting group underlying pretax profit of
£8.3 million in the 52 weeks to 30th March, a 418 percent improvement on last
year. Group losses (before tax, but after exceptionals) narrowed from £102.9
million last year to £21.5 million in 2013. Further, despite posting a 10
percent sales decline in the UK-to £499.7 million, Mothercare says this was an
improved performance. The company noted a positive contribution from its “direct-in-home”
business-up 4 percent to £93.8 million, benefitting from a transition to a new
online platform and mobile app.
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