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Mothercare preliminary FY 2013-14 sales show 0.5% rise

May 24, 2014 (United Kingdom)

Mothercare plc, the leading international mother and baby specialist, announces Preliminary results for the 52-week period to 29 March 2014.
 
Highlights for FY2013/14
Financial highlights
-Worldwide network sales up 0.5% to £1,191.5 million, with total International sales up 6.4%1 despite significant currency headwinds, and total UK sales down 7.5% as further loss-making stores were closed
-International like-for-like sales up 2.5%1; UK like-for-like sales3 down 1.9%, on an improving trend after a 3.6% decline last year
-Underlying profit before tax of £9.5 million compared to £5.9 million last year with underlying International profits up 7.6% to £45.3 million and underlying UK losses5 slightly lower at £21.5 million
-Group loss before tax and after exceptional and non-underlying items of £26.3 million, which includes a non-underlying non-cash foreign currency charge of £14.9 million
-Net debt of £46.5 million, in line with previous guidance. Further covenant headroom and facilities put in place in May 2014
 
Operating highlights 
-International space up 13.1% and sales up 9.3% in constant currency with 1,221 stores in 59 countries
-Reshaping of the UK business continues with the closure of an additional net 35 loss-making stores and refits in some key stores
-Multi-channel growth, with UK Direct sales now 29% of total UK sales and a third of online orders collected in store
-In the UK, Mobile is growing rapidly and now accounts for 35% of UK online traffic
-Ten International websites in place 
 
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