Business
Mothercare Plc : Final Results
Mothercare Plc : Final Results.
About this update from Mothercare Plc
[{"type":"text","content":"\n Mothercare Plc : Final ResultsMothercare PlcFY2015/16 Full Year ResultsUnderlying profits up 51% as UK turnaround continueswith plans underway to strengthen the International business Mothercare plc, the global retailer for parents and young children, today announces full-year results for the 52-week period to 26 March 2016. Highlights for FY2015/16Underlying profit before tax up 51% at £19.6mFurther progress in UK with margins up 70 bps, online sales growth of 15%, like-for-like sales growth of 3.6% and losses reduced by 64%International remains challenging with economic and currency headwinds impacting profits, which were down (12%)Statutory profit before tax of £9.7m compared to a loss in the previous four yearsClosing net cash of £13.5m, after investing £39.2m during the yearReview of International business completed with plans in place to strengthen the businessGroup performance FY2015/16FY2014/15 52 weeks to52 weeks to% change 26 Mar 201628 Mar 2015vs. £million£millionlast yearUK UK like-for-like sales1 +3.6% +2.0% - Total UK sales 459.7 458.1 +0.3% Underlying UK loss2 (6.4) (18.0) +64.4%International International like-for-like sales1 (4.5)% +5.6% - International retail sales in constant currency (1.4)% +12.4% International retail sales in actual currency (7.4)% +2.1% Total International sales 689.7 745.4 (7.5)% Underlying International profit2 40.3 45.9 (12.2)%Group Worldwide sales1 1,149.4 1,203.5 (4.5)% Total group sales 682.3 713.9 (4.4)% Group underlying profit before tax2 19.6 13.0 +50.8% Exceptional credit/charge & non-underlying items (9.9) (26.1) - Group profit before tax after exceptional and non-underlying items 9.7 (13.1) - Underlying EPS2 9.6p 8.6p +11.6% Net cash 13.5 31.5 - Mark Newton-Jones, Chief Executive of Mothercare plc, said: \"I'm pleased to report that two years into our turnaround strategy we have recorded a 51% growth in underlying profit before tax and the delivery of our first statutory profit in five years.\" \"The results highlight the significant progress we are making towards returning the UK to profitability. Improvements to our customer offer, both in store and online, and the look and feel of the store estate are driving like-for-like sales growth for a second con...